SAN FRANCISCO, Sept. 11, 2019 (GLOBE NEWSWIRE) — Hagens Berman notifies investors in Axon Enterprises, Inc. (NASDAQ: AAXN) of the firm’s investigation of possible disclosure violations.
If you invested in AAXN before August 9, 2019 and suffered losses or have information that may assist this investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
The firm’s investigation concerns the accuracy of the Company’s disclosures and reported financial results.
On June 19, 2019, Spruce Point released a report predicating, “with a history of SEC inquires, delinquent filings, and material weaknesses,” Axon would “shock investors with significant earnings disappointment and increasing cash burn.” Spruce Point explained that Axon had “concealed its dependence on Chinese imports” and stated tariffs on these goods will “constrain margin growth.” Moreover, Spruce Point accused Axon of “aggressive revenue recognition policies, which have pulled forward revenues.”
Then, on August 8, 2019, as Spruce Point predicted, Axon released disappointing 2Q 2019 results. The Company announced that net income fell 91% year-over-year. The news caused AAXN shares to decline sharply.
“We’re focused on investors’ losses and whether AAXN misrepresented the demand for its body camera and Taser products,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Axon should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email AAXN@hbsslaw.com.
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Reed Kathrein, 510-725-3000