PHOENIX--(BUSINESS WIRE)--Bonnett, Fairbourn, Friedman & Balint, PC filed a class action lawsuit on August 23, 2016, in the Arizona Superior Court in and for Maricopa County, Case No. CV2016-013272, on behalf of a proposed class of investors (the “Class”) who purchased securities issued by Xhibit Corp. during the period between May 16, 2013 and September 10, 2014 (the “Class Period”).
If you are a member of the putative Class described above, you may, no later than sixty (60) days from the date of this notice (i.e., no later than November 8, 2016), move the Court to serve as lead plaintiff of the putative Class. To serve as lead plaintiff you must meet certain legal requirements set forth in A.R.S. § 44-2081.
The complaint generally alleges that Defendants Jahm J. Najafi, Kevin M. Weiss, David P. Franke, James D. Staudohar and Scott Wiley (and their respective marital communities) violated A.R.S. § 44-1991(A)(3) by engaging in a 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).
The named plaintiffs who purchased securities offered by Xhibit Corp. are represented by Andrew S. Friedman at the law firm Bonnett, Fairbourn, Friedman & Balint, PC.