Aoxing Pharmaceutical Company Inc (AXN) Shares Down After Investigation into Violation of SecuritiesExchange Act of 1934


Aoxing Pharmaceutical Company Inc (NYSEMKT:AXN) shares have fell significantly in trading today after Bronstein, Gewirtz & Grossman, LLC announced an investigation into the company.

Aoxing Pharmaceutical Company Inc (NYSEMKT:AXN) is being investigated for violating sections 10(b) (Position Limits and Position Accountability for Security-Based Swaps and Large Trader Reporting) and 20(a) (Liability to Contemporaneous Traders for Insider Trading) of the Securities Exchange Act of 1934.

The stock has fallen 6.25% or GBX 0.08 following this negative news, hitting GBX 1.2 per share. Approximately 103,342 shares traded hands. AXN shares have declined 11.72% since April 30, 2015 and are currently downtrending. It has underperformed the S&P500 by 11.44%.

Aoxing Pharmaceutical Company, Inc. is a specialty pharmaceutical company, which specializes in research, development, manufacturing and distribution of a range of narcotics and pain-management products and drug-relief medicine. The company has a market cap of 89.16 million GBP. The Company’s subsidiary, Hebei Aoxing Pharmaceutical Co., Inc., is engaged in developing narcotics and pain management products. It has 12.11 P/E ratio. The Company’s products are produced in various formulations, such as injection, tablets, capsules, oral solution and powders.