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 ...

NEW YORK, Nov. 29, 2024 (GLOBE NEWSWIRE) -- 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 ...

SAN DIEGO, Nov. 26, 2024 /PRNewswire/ -- Robbins LLP reminds shareholders that a class action was filed on behalf of all investors and entities that purchased or otherwise acquired Xiao-I Corporation (NASDAQ: AIXI) ADSs pursuant and/or traceable to the Company's initial public offering ("IPO") on March 9, 2023, or between March 9, 2023 and July 12, 2024. Xiao-I conducts business through its subsidiary Shanghai Xiao-I Robot Technology Co., Ltd., which comprises the Company's AI business.For more information, ...

NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- 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=113433&from=3 CLASS PERIOD: March 9 ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Xiao-I Corporation due to alleged violations of federal securities laws, encouraging affected investors to come forward [2][4]. Group 1: Company Overview - Xiao-I Corporation, listed on NASDAQ under the ticker AIXI, launched its initial public offering (IPO) on March 8, 2023, selling 5.7 million American depositary shares (ADSs) at $6.80 each [5]. - The company's ADS price has significantly dropped since the IPO, leading to substantial losses for investors [5]. Group 2: Allegations and Legal Actions - The complaint against Xiao-I alleges that the company and its executives made false or misleading statements regarding various operational and financial aspects, including risks related to Chinese shareholders' non-compliance and financial reporting standards [4]. - Specific allegations include overstating AI capabilities, R&D resources, and the company's ability to compete in the AI market, as well as failing to comply with GAAP in financial statements [4]. - Xiao-I received a notification from NASDAQ on July 11, 2024, indicating non-compliance with the minimum bid price requirement, as the closing bid price per ADS had been below $1.00 for 30 consecutive business days [7]. Group 3: Investor Information - Investors who suffered losses exceeding $50,000 due to their investment in Xiao-I are encouraged to contact Faruqi & Faruqi for discussions regarding their legal rights [1]. - The deadline for investors to seek the role of lead plaintiff in the federal securities class action against Xiao-I is December 16, 2024 [2].

NEW YORK, Nov. 21, 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=112800&from=4CLASS PERIOD: March 9, 2023 t ...

NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- 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 ...

SAN DIEGO, Nov. 20, 2024 /PRNewswire/ -- Robbins LLP reminds shareholders that a class action was filed on behalf of all investors and entities that purchased or otherwise acquired Xiao-I Corporation (NASDAQ: AIXI) ADSs pursuant and/or traceable to the Company's initial public offering ("IPO") on March 9, 2023, or between March 9, 2023 and July 12, 2024. Xiao-I conducts business through its subsidiary Shanghai Xiao-I Robot Technology Co., Ltd., which comprises the Company's AI business. For more information ...

NEW YORK, Nov. 20, 2024 (GLOBE NEWSWIRE) -- 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=112590&from=3 CLASS PERIOD: March 9 ...