Shepherd, Finkelman, Miller & Shah, LLC Announces Securities Class Action Against AXT, Inc.

Shepherd, Finkelman, Miller & Shah, LLC Announces Securities
Class Action Against AXT, Inc. 


HARTFORD, Conn., Nov. 1  /PRNewswire/ -- Shepherd, Finkelman, Miller & Shah,
LLC (http://www.classactioncounsel.com/; e-mail: ), a law firm with offices in
Connecticut, Pennsylvania, New Jersey and Florida, announced today that a
lawsuit seeking class action status has been filed in the United States
District Court for the Northern District of California on behalf of all persons
(the "Class") who purchased the securities of AXT, Inc. ("AXTI") (NYSE: AXTI -
News; "AXT" or the "Company") during the period between February 6, 2001 and
April 27, 2004 (the "Class Period"). A copy of the Complaint filed in this
action can be obtained from the Court, or you can call our offices toll-free at
either 866/540-5505 or 877/891-9880 to speak with an attorney regarding this
matter and we will send you a copy of the Complaint.

The Complaint alleges that, during the Class Period, the Company violated
Sections 10(b) and 20(a) of the Securities Act of 1934 and Rule 10b-5
promulgated thereunder.  Specifically, the Complaint alleges that, as part of
its ongoing efforts to create and continue the illusion of AXT's growth in the
semiconductor industry, it knowingly or recklessly issued and/or participated
in the issuance of materially false and misleading statements and financial
information.  The Complaint also alleges that, during the Class Period, AXT did
not follow the specific requirements for the testing of products, and, as a
result of this misconduct, failed to accrue adequate reserves, falsely stated
its reports, reserves, revenue and income, and falsely represented that the
Company was meeting customer requirements.

If you are purchased AXT common stock between February 6, 2001 and April 27,
2004 (inclusive), you may qualify to serve as a lead plaintiff on behalf of the
Class. All motions for appointment as a lead plaintiff must be filed with the
Court no later than December 14, 2004. Any member of the proposed Class may
move the Court to serve as lead plaintiff in this action through counsel of his
or her choice, or may remain an absent class member. There are certain legal
requirements to serve as lead plaintiff, which we would be pleased to discuss
with you.

Please contact James E. Miller, Esquire (866/540-5505; ) or James C. Shah,
Esquire (877/891-9880; ) if you would like to discuss this action or have any
question regarding this notice or your rights.

Shepherd, Finkelman, Miller & Shah, LLC (http://www.classactioncounsel.com/) is
a national law firm that represents investors, including institutions and
individuals, as well as consumers in class action and other complex litigation,
and maintains offices in Connecticut, Florida, New Jersey and Pennsylvania. The
firm's attorneys have appeared in matters on behalf of our clients throughout
the United States and have been appointed lead counsel in a number of class
actions and corporate governance matters. 

DATASOURCE: Shepherd, Finkelman, Miller & Shah, LLC



CONTACT:  James E. Miller, Esquire, [phone],

; or James C. Shah, Esquire, [phone];

, both of Shepherd, Finkelman, Miller & Shah, LLC



Web site:  http://www.classactioncounsel.com/

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