NEW YORK, May 16, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds all purchasers of the securities of Axesstel Inc. (OTCQB:AXST) between February 25, 2013 and March 31, 2014, of the important June 23, 2014 lead plaintiff deadline.
To join the Axesstel class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants issued false and misleading statements or failed to disclose that: (1) Axesstel faced problems that impacted the rollout of its new Home Alert product line; (2) certain aspects of sales to two of its customers in Africa during the first quarter of 2013 were not finalized by the end of the quarter; (3) Axesstel improperly recognized revenue from such sales to the two customers in Africa; (4) as a result, the Company's revenue and financial results were overstated and the progress of the Home Alert rollout was misrepresented; (5) Axesstel's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; and (6) the Company lacked adequate internal and financial controls.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 23, 2014. If you wish to join the litigation visit http://rosenlegal.com or contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 email@example.com firstname.lastname@example.org email@example.com www.rosenlegal.comSource: The Rosen Law Firm PA PC