San Diego, CA -- (SBWIRE) -- 09/19/2016 -- The Shareholders Foundation announced that 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.

Investors who SOLD a significant amount of shares of Xhibit Corp (OTCMKTS:XBTCQ) between May 16, 2013 and September 10, 2014 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 at mail@shareholdersfoundation.com or call 858-779-1554.

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. 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.

Those who sold shares of Xhibit Corp between May 16, 2013 and September 10, 2014, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com