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].

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 [1][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 for filing a lead plaintiff motion set for December 16, 2024 [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, improper financial statement preparation, 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].

Core Viewpoint - The Gross Law Firm is notifying shareholders of Xiao-I Corporation (NASDAQ: AIXI) about a class action lawsuit due to alleged misleading statements and non-compliance with financial regulations during the class period from March 9, 2023, to July 12, 2024 [1][2]. Group 1: Allegations Against Xiao-I Corporation - The complaint alleges that Xiao-I downplayed the risks associated with non-compliance from certain Chinese shareholders, affecting the company's ability to utilize offering proceeds for intended business purposes [2]. - Xiao-I is accused of failing 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 the company's 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]. Group 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]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. - Participation in the case incurs no cost or obligation for the shareholders [3].

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].

NEW YORK, Dec. 2, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Xiao-I Corporation (NASDAQ: AIXI): (i) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about March 9, 2023 (the "IPO" or "Offering"); and/or (ii) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"), of the important December 16, 2024 ...