NEW YORK, Oct. 24, 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 ...

NEWTOWN, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of all investors of Xiao-I Corporation (NASDAQ: AIXI) that purchased or otherwise acquired (a) Xiao-I American depository shares (“ADSs”) pursuant and/or traceable to the Offering Documents issued in connection with the Company’s public offering conducted on or about March 9, 2023; and/or (b) Xiao-I securities between March 9, 2023 and July 12, 2024, inclu ...

Core Viewpoint - Xiao-I Corporation (NASDAQ: AIXI) is facing a class action lawsuit due to allegations of misleading statements and non-compliance with accounting principles, which may have inflated its stock price and misrepresented its financial health [2][4]. Group 1: Allegations and Issues - The class period for the allegations spans from March 9, 2023, to July 12, 2024 [2]. - Allegations include downplaying risks related to non-compliance by Chinese shareholders, which affected the company's ability to utilize offering proceeds [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 [2]. - Significant R&D expenses incurred by Xiao-I to compete in the AI industry were downplayed, impacting business and financial results [2]. - The company is said to have overstated its AI capabilities and resources, leading to potential non-compliance with NASDAQ's Minimum Bid Price Requirement [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by December 16, 2024, to potentially become lead plaintiffs [3]. - Registration allows shareholders to receive updates through portfolio monitoring software regarding the case's progress [3]. - Participation in the case incurs no cost or obligation for shareholders [3].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Xiao-I To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Xiao-I as a result of purchasing (a) Xiao-I American depository shares (ADSs) issued in connection with the Company’s initial public offering on or about March 9, 2023 and/or (b) Xiao-I securities between March 9, 2023 and July 12, 2024 and would like to discuss your legal right ...

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 business and financial results [2]. - The lawsuit asserts that Xiao-I overstated its AI capabilities, R&D resources, and overall competitiveness in the AI 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]. - The offering documents and public statements made during the class period are alleged to be materially false and misleading [2]. Group 2: Next Steps for Investors - Investors who suffered losses in Xiao-I Corporation during the relevant 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]. - Participation in the lawsuit does not require serving as a lead plaintiff [3]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a track record of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [3].

Core Viewpoint - A class action lawsuit has been filed against Xiao-I Corporation (NASDAQ: AIXI) for allegedly misleading investors regarding its business prospects and financial disclosures related to its IPO on March 9, 2023 [1]. Group 1: Allegations Against Xiao-I Corporation - The complaint claims that the Offering Documents for the IPO were negligently prepared [1]. - Defendants allegedly downplayed the risks associated with non-compliance by certain Chinese shareholders with Circular 37 Registration, affecting the use of IPO proceeds [1]. - Xiao-I is accused of failing to comply with GAAP in its financial statements [1]. - The company purportedly overstated its efforts to address material weaknesses in financial controls [1]. - Significant R&D expenses incurred by Xiao-I to compete in the AI industry were allegedly downplayed, impacting business and financial results [1]. - The company is accused of overstating its AI capabilities, R&D resources, and overall competitiveness in the AI market [1]. - There is a substantial likelihood that Xiao-I may fail to meet NASDAQ's Minimum Bid Price Requirement due to these issues [1]. Group 2: Class Action Participation - Shareholders may be eligible to participate in the class action against Xiao-I Corporation, with a deadline to apply as lead plaintiff by December 16, 2024 [2]. - A lead plaintiff represents other class members in directing the litigation, but participation is not required for recovery [2]. Group 3: Robbins LLP Overview - Robbins LLP is a recognized leader in shareholder rights litigation, having recovered over $1 billion for shareholders since its inception in 2002 [3].

Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of purchasers of Xiao-I Corporation's American depository shares (ADSs) related to its initial public offering (IPO) and subsequent securities purchases, alleging misleading statements and non-disclosure of significant risks [1][4]. Group 1: Lawsuit Details - The class action lawsuit pertains to ADSs purchased during the IPO on March 9, 2023, and securities bought between March 9, 2023, and July 12, 2024 [1]. - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - The lawsuit claims that Xiao-I downplayed risks related to compliance issues with Chinese regulations, specifically Circular 37 Registration, affecting its ability to utilize IPO proceeds [4]. Group 2: Allegations Against Xiao-I - Allegations include failure to comply with U.S. Generally Accepted Accounting Principles (GAAP) in financial statements and overstating efforts to address material weaknesses in financial controls [4]. - The company reportedly incurred significant research and development (R&D) expenses to compete in the AI industry, which were downplayed in public statements [4]. - The lawsuit asserts that these misrepresentations led to a substantial likelihood of failing to meet NASDAQ's listing requirements, including maintaining a minimum closing bid price of $1.00 per share [4]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked highly for securities class action settlements [3]. - The firm has recovered hundreds of millions of dollars for investors, with over $438 million secured in 2019 alone [3].

 NEW YORK, Oct. 20, 2024 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Xiao-I Corp. ("Xiao-I" or "the Company") (NASDAQ: AIXI) and certain of its officers.Class DefinitionThis lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Xiao-I securities bet ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Xiao-I Corporation due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action by December 16, 2024 [2][3]. Group 1: Legal Investigation and Claims - The firm is encouraging investors who suffered losses exceeding $50,000 in Xiao-I to discuss their legal options [1]. - The complaint alleges that Xiao-I and its executives made false or misleading statements regarding the company's financial health and compliance with regulations [3]. - Specific allegations include downplaying risks related to Chinese shareholders' non-compliance, failure to adhere to GAAP, and overstating AI capabilities and R&D resources [3]. Group 2: Financial Performance and Stock Price Impact - Xiao-I launched its IPO on March 8, 2023, selling 5.7 million ADSs at $6.80 each, but the stock price has since dropped significantly, leading to investor losses [4]. - Following the disclosure of potential regulatory issues in an amended annual report, the ADS price fell by 11.56% to $7.11 on August 11, 2023 [4]. - On July 15, 2024, Xiao-I received a notification from NASDAQ regarding non-compliance with the minimum bid price requirement, causing the ADS price to drop to approximately $0.67 [5]. Group 3: Class Action Participation - The lead plaintiff in the class action will be the investor with the largest financial interest who is also typical of class members [6]. - Any member of the putative class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [6]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Xiao-I's conduct [6].

NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces that it has filed a class action on behalf of 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 (the “Class Period”). A ...