Pomerantz LLP Announces Proposed Class Action Settlement on Behalf of Purchasers And Acquirers of Axiom Holdings, Inc. Securities

NEW YORK, May 28, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers and acquirers of securities of Axiom Holdings, Inc. (OTCMKTS: AIOM):

SUMMARY NOTICE OF (I) PENDENCY AND CERTIFICATION OF CLASS ACTION; (II) ENTRY OF DEFAULT JUDGMENT AGAINST AXIOM HOLDINGS, INC. ON THE ISSUE OF LIABILITY; AND (III) PROPOSED VOLUNTARY DISMISSAL OF CLAIMS AGAINST DEFENDANT CURTIS RILEY

TO: ALL PURCHASERS AND ACQUIRERS OF AXIOM HOLDINGS, INC. SECURITIES DURING THE PERIOD FROM OCTOBER 14, 2016 THROUGH AND INCLUDING JUNE 19, 2017 (the “Class Period”).

PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THIS ACTION.

Notice is hereby given pursuant to Rule 23 of the Federal Rules of Civil Procedure that a the above-captioned action (the “Action”) is pending before the Honorable John P. Cronan in the United States District Court for the Southern District of New York (the “Court”), and has been certified as a Class Action by an Order of the Court entered on July 6, 2020. Notice is further given that default judgment has been entered against Axiom on the issue of liability only, by an Order of the Court entered on March 11, 2021. Notice is further given that the Class Representatives have requested an Order voluntarily dismissing all claims against Riley, without prejudice, for the reasons described more fully in a more detailed Long Notice of (I) Pendency and Certification of Class Action, (II) Entry of Default Judgment Against Axiom Holdings, Inc. on the Issue of Liability; and (III) Proposed Voluntary Dismissal of Claims against Defendant Curtis Riley, which is available on the Notice Administrator’s website, www.strategicclaims.net. Defendant Riley has raised an objection to the proposed dismissal of claims against him without prejudice and seeks dismissal of such claims with prejudice, or alternatively that any class members excluding themselves from the action be required to declare their intent to the Court immediately and have a time limit of thirty days to file litigation against Defendant Riley. This Action has not been settled, a final judgment has not been entered, and the issue of damages continues to be litigated. Accordingly, no claim form need be filed at this time.

If you purchased or acquired Axiom securities during the Class Period and were injured thereby, you may be a member of certified Class Action (the “Judgment Class”) whose rights are affected by this Action. You also have the right to exclude yourself from the Judgment Class, or object to the proposed dismissal of claims against Defendant Riley, in accordance with the directions set forth in a more detailed Long Notice of (I) Pendency and Certification of Class Action, (II) Entry of Default Judgment Against Axiom Holdings, Inc. on the Issue of Liability; and (III) Proposed Voluntary Dismissal of Claims against Defendant Curtis Riley, which is available on the Notice Administrator’s website, www.strategicclaims.net. That document describes the Class Action and your rights with respect thereto.

As detailed in the Long Notice, the deadline to exclude yourself from the Judgment Class, or object to the proposed dismissal of Defendant Riley, is November 3, 2021, and a hearing will be held on November 16, 2021, at 10:00 a.m. before the Honorable John P. Cronan, at the United States District Court, Southern District of New York, 500 Pearl St., Courtroom 12D, New York, New York 10007 to consider the proposed voluntary dismissal of all claims against Defendant Riley, without prejudice. The Court reserves the right to hold the hearing telephonically or by other virtual means.

If you have not received a Postcard Notice by mail or email or this Summary Notice by email, please contact us in writing:

Axiom Securities Litigation Notice Administrator
c/o Strategic Claims Services
P.O. Box 230
600 North Jackson Street – Suite 205
Media, PA 19063
Tel.: (866) 274-4004
Fax: (610) 565-7985
info@strategicclaims.net
www.strategicclaims.net

Inquiries, other than requests for the Notice, may be made to Class Counsel, at:

Jeremy A. Lieberman
Murielle J. Steven Walsh
Eric D. Gottlieb
POMERANTZ LLP
600 Third Avenue, 20th Floor
New York, New York 10016
Telephone: (212) 661-1100
jalieberman@pomlaw.com
mjsteven@pomlaw.com
egottlieb@pomlaw.com

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK’S OFFICE, THE DEFENDANTS, OR DEFENDANTS’ COUNSEL.

Dated: May 5, 2021 (entered May 7, 2021)
New York, New York

By Order of the Court
United States District Court
for Southern District of New York