Robbins LLP Is Investigating the Officers and Directors of Axon Enterprise, Inc. (AAXN) on Behalf of Shareholders
Robbins LLP is investigating whether certain officers and directors of Axon Enterprise, Inc. (NasdaqGS: AAXN) breached their fiduciary duties to shareholders by engaging in improper accounting practices. Axon develops, manufactures, and sells conducted electrical weapons worldwide.
Axon May Have Engaged in Improper Accounting Practices
On October 19, 2017, Axon announced in a Form 8-K that the U.S. Securities and Exchange Commission (“SEC”) is reviewing the company’s financial statements. The SEC specifically seeks to review Axon’s 2016 financial report and its quarterly report for the period ending March 31, 2017. In a September 20, 2017 letter from the SEC to Axon, the SEC states that Axon has not yet provided a substantive response to its earlier comment letters, noting that it “will take further steps as we deem appropriate.” On this news, Axon’s stock fell $1.61 per share, or over 6%, to close at $23.01 per share on October 20, 2017.
Axon Shareholders Have Legal Options
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