SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Investors of Class Action
Against AXESSTEL, INC. and Its Board of Directors and a Lead Plaintiff
Deadline of June 23, 2014 -- AXST
NEW YORK, June 17, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Southern District of California on behalf of investors who purchased
Axesstel, Inc. ("Axesstel" or the "Company") (OTC:AXST) common stock between
February 25, 2013 and March 31, 2014.
For more information, click here: http://zlk.9nl.com/axesstel-axst.
The complaint alleges that during the Class Period, defendants issued false
and misleading information and/or failed to disclose that, among other things:
(a) the Company was facing problems that impacted the rollout of Axesstel's
new Home Alert product line; (b) certain aspects of sales to two customers in
Africa in the first quarter of 2013 were not finalized by the end of the
quarter; (c) the Company improperly recognized revenue from the foregoing
sales to said customers; (d) as a result of the aforementioned, the Company's
revenue and financial results were overstated, and the progress of the Home
Alert rollout was misrepresented; and (e) the Company lacked adequate internal
and financial controls.
If you suffered a loss in Axesstel you have until June 23, 2014 to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York, New Jersey,
Connecticut and Washington D.C. The firm's 26 attorneys have extensive
expertise in prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and shareholder
lawsuits. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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