Market Overview - The global smart glasses market is projected to grow from USD 878.8 million in 2024 to USD 4,129.3 million by 2030, with a CAGR of 29.4% from 2024 to 2030 [1] - Key growth drivers include rapid technological advancements, increased demand for augmented reality (AR) and mixed reality (MR) smart glasses, and growing adoption across industrial, healthcare, and consumer sectors [1] Technological Advancements - Higher resolution displays and advanced sensors, such as gesture recognition and eye-tracking, are enhancing user interaction and experience [1] - The development of 5G technology is expected to significantly boost the smart glasses market by enabling high-speed, low-latency communications essential for AR and cloud-based applications [2] Company Developments - Xiao-I Corporation forecasts new revenue of $12-15 million in 2025 from AI glasses driven by strong demand and state procurement invitations [2][5] - Xiao-I has been invited to register for centralized procurement programs by four U.S. state governments, indicating a strategic move to provide AI-driven solutions to public-sector organizations [3] Product Innovations - Xiao-I's AI-powered glasses, launched in August, are designed to support the Deaf and hard-of-hearing community, providing life-changing communication solutions [4] - Vuzix Corporation's M400 smart glasses have been expanded in deployment by the U.S. Department of Labor's OSHA to enhance operational efficiency and safety [6][7] - Meta Platforms, Inc. has updated its Ray-Ban smart glasses with AI video capabilities and real-time language translation [8][9] - Alphabet Inc. has introduced a new Android operating system, Android XR, aimed at powering virtual and augmented reality devices [10][11] - Wearable Devices Ltd. has launched the Mudra Band and Mudra Link, utilizing proprietary technology for gesture control of digital devices [12]

Core Insights - Xiao-I Corporation has made significant strides in expanding its presence in the U.S. market and delivering impactful AI technology solutions [1][2] Group 1: U.S. Market Expansion - The company has been invited to register for centralized procurement programs by key clients, which is a critical step in its strategy to provide AI-driven solutions to U.S. organizations [2] - This inclusion in procurement lists reflects the company's commitment to advancing accessibility and innovation in overseas business expansions [2][3] Group 2: Product Development and Revenue Projections - Xiao-I's AI-powered glasses, launched in August, have gained market acceptance and are designed to bridge communication gaps for underserved individuals [3] - The company estimates delivering at least 10,000 units of these glasses in 2025, which is projected to generate $12-15 million in new revenue for that year [4] Group 3: Commitment to Social Impact - The company focuses on developing technologies that address real-world challenges, aligning innovation with accessibility to expand its global reach and impact [5]

Core Viewpoint - Xiao-I Corporation (NASDAQ: AIXI) is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its financial health and operational capabilities, particularly in the AI sector [2]. Summary by Relevant Sections Allegations - The complaint alleges that during the class period from March 9, 2023, to July 12, 2024, Xiao-I downplayed the risks associated with non-compliance by certain Chinese shareholders, affecting its ability to utilize offering proceeds for intended business purposes [2]. - It is claimed that Xiao-I failed to comply with Generally Accepted Accounting Principles (GAAP) in its financial statements [2]. - The company allegedly overstated its efforts to address material weaknesses in financial controls and exaggerated its AI capabilities and R&D resources [2]. - Significant R&D expenses incurred by Xiao-I to compete in the AI industry were downplayed, which negatively impacted its business and financial results [2]. - There is a substantial likelihood that Xiao-I would fail to meet NASDAQ's Minimum Bid Price Requirement due to these issues [2]. Class Action Details - Shareholders who purchased AIXI shares during the specified class period are encouraged to register for the class action, with a deadline for lead plaintiff appointment set for December 16, 2024 [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [3]. Law Firm Information - The Gross Law Firm is leading the class action, emphasizing its commitment to protecting investors' rights against deceit and fraud [4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Xiao-I Corporation (NASDAQ: AIXI) American depository shares (ADSs) during the IPO and the specified class period of the upcoming lead plaintiff deadline on December 16, 2024 [1][2]. Group 1: Class Action Details - Investors who purchased Xiao-I ADSs during the IPO or the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by December 16, 2024 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Allegations Against Xiao-I - The lawsuit alleges that the Offering Documents contained false or misleading statements regarding Xiao-I's compliance with Circular 37 Registration, which affected its ability to use IPO proceeds for intended business purposes [5]. - It is claimed that Xiao-I did not comply with U.S. Generally Accepted Accounting Principles (GAAP) in its financial statements and overstated its efforts to address material weaknesses in financial controls [5]. - The lawsuit also states that Xiao-I incurred significant research and development expenses to compete in the AI industry, which were downplayed in public statements, leading to an overstatement of its capabilities and resources [5]. - As a result of these issues, there was a substantial likelihood that Xiao-I would fail to meet NASDAQ's listing requirements, including maintaining a minimum closing bid price of $1.00 per share [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Xiao-I Corporation's American depository shares (ADSs) during the IPO and the subsequent class period of the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who purchased Xiao-I ADSs during the IPO or between March 9, 2023, and July 12, 2024, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by December 16, 2024 [3]. Group 2: Legal Representation - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements in this area [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. Group 3: Case Allegations - The lawsuit alleges that Xiao-I Corporation made false or misleading statements regarding its financial health and compliance with regulations, including downplaying risks related to its Chinese shareholders and overstating its AI capabilities [5]. - Specific claims include non-compliance with U.S. Generally Accepted Accounting Principles (GAAP) and the potential failure to meet NASDAQ's listing requirements due to these misrepresentations [5].

LOS ANGELES, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Xiao-I Corp. ("Xiao-I" or the "Company") (NASDAQ: AIXI) investors of a class action representing investors that bought securities between March 9, 2023, and July 12, 2024, inclusive (the "Class Period"). Xiao-I investors have until December 16, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or ...

NEW YORK, Dec. 12, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Xiao-I Corporation (NASDAQ: AIXI).Shareholders who purchased shares of AIXI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/xiao-i-corporation-loss-submission-form/?id=115942&from=4CLASS PERIOD: March 9, 2023 t ...

Core Viewpoint - A class action securities lawsuit has been filed against Xiao-I Corporation, alleging securities fraud that affected investors between March 9, 2023, and July 12, 2024 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that defendants downplayed the risks Xiao-I faced due to non-compliance by certain Chinese shareholders, affecting the company's ability to use offering proceeds for intended business purposes [2]. - It is alleged that Xiao-I failed to comply with Generally Accepted Accounting Principles in its financial statements [2]. - The complaint states that defendants overstated Xiao-I's efforts to address material weaknesses in financial controls [2]. - Significant R&D expenses incurred by Xiao-I to compete in the AI industry were downplayed, impacting the company's financial results [2]. - The lawsuit asserts that Xiao-I overstated its AI capabilities and overall ability to compete in the market [2]. - There is a claim that Xiao-I may fail to comply with NASDAQ's Minimum Bid Price Requirement due to these issues [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified time frame have until December 16, 2024, to request appointment as lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [4].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Xiao-I Corporation's American depository shares (ADSs) during the IPO and the subsequent class period of the upcoming lead plaintiff deadline for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who purchased Xiao-I ADSs during the IPO or between March 9, 2023, and July 12, 2024, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by December 16, 2024 [3]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions, as many firms may lack the necessary experience and resources [4]. - The Rosen Law Firm has a history of successful settlements in securities class actions, including the largest settlement against a Chinese company at the time [4]. Group 3: Case Allegations - The lawsuit alleges that Xiao-I Corporation made false or misleading statements regarding its financial health and compliance with regulations, including the failure to disclose risks related to its Chinese shareholders' non-compliance with Circular 37 Registration [5]. - Specific allegations include overstating AI capabilities, R&D resources, and the potential to meet NASDAQ's listing requirements, which may have led to investor damages when the true information became public [5].

Core Viewpoint - Xiao-I Corp. is facing a class action lawsuit due to alleged misleading statements and non-compliance with NASDAQ's minimum bid price requirement, impacting investor confidence and stock performance [3][4]. Group 1: Class Action Details - The class action represents investors who purchased securities between March 9, 2023, and July 12, 2024, with a deadline of December 16, 2024, to file a lead plaintiff motion [1]. - The lawsuit was triggered by a notification from NASDAQ on July 11, 2024, indicating that Xiao-I was not in compliance with listing requirements [3]. Group 2: Allegations Against Xiao-I - The complaint alleges that the Offering Documents contained false statements and omitted necessary information, failing to comply with applicable regulations [4]. - Specific claims include the minimization of risks related to certain Chinese shareholders' non-compliance, non-GAAP compliant financial statements, and exaggerated efforts to address financial control weaknesses [4]. - The lawsuit also highlights significant R&D expenses incurred by Xiao-I to compete in the AI industry, which were downplayed in public statements, leading to an overstatement of the company's capabilities [4]. Group 3: Market Impact - Following the announcement of the NASDAQ notification, Xiao-I's American Depositary Shares (ADS) price fell by 2.28%, closing at approximately $0.67 per ADS on July 15, 2024 [4].