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Xhibit Corp (OTCMKTS:XBTCQ) Investor Securities Class Action Lawsuit 09/09/2016

  • If you sold a significant amount of shares of Xhibit Corp (OTCMKTS:XBTCQ) between May 16, 2013 and September 10, 2014, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 8, 2016. OTCMKTS:XBTCQ investors should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Xhibit Corp
Security
OTCMKTS: XBTCQ

Case Name
Xhibit Shareholder Class Action Lawsuit 09/09/2016
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
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Summary

September 20, 2016 (Shareholders Foundation) - An investor, who sold shares of Xhibit Corp (OTCMKTS:XBTCQ), filed a lawsuit in the U.S. District Court for the Arizona Superior Court in and for Maricopa County over alleged violations of Federal Securities Laws.
According to the complaint the plaintiff alleges on behalf of sellers of Xhibit Corp (OTCMKTS:XBTCQ) common shares between May 16, 2013 and September 10, 2014, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between May 16, 2013 and September 10, 2014 Defendants violated A.R.S. § 44-1991(A)(3) by engaging in an allegedly fraudulent or deceitful transaction, practice, and course of business in connection with a May 16, 2013 merger transaction between Xhibit and SkyMall. These named Defendants are also alleged to be secondarily liable to the Class members as controlling persons under A.R.S. § 44-1999(B).

Xhibit Corp reported that its annual Total Revenue rose from $9.77 million in 2012 to $74.42 million in 2013 while its Net Loss increased from $0.39 million to $172.55 million in 2014.