NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Xiao-I (i) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connec ...

NEW YORK, Oct. 17, 2024 /PRNewswire/ --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 class ...

NEW YORK, Oct. 17, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI) and certain officers and directors. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 24-cv-07837, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired: (a) Xiao-I American depository shares ("ADSs" ...

SAN DIEGO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Robbins LLP announces that a shareholder filed a class action 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. (“Shanghai Xiao-i”), which comprises the Company’s AI busines ...

ATLANTA, Oct. 16, 2024 (GLOBE NEWSWIRE) --  A shareholder class action lawsuit has been filed against Xiao-I Corporation (“Xiao-I” or “the Company”) (NASDAQ: AIXI). The lawsuit alleges that Xiao-I’s Offering Documents were negligently prepared and that Defendants’ statements throughout the Class Period were materially false and misleading and/or omitted material information about the Company’s business, operations, and prospects, including allegations that: (i) Defendants had downplayed the true scope and s ...

Core Insights - Xiao-I Corporation has renewed its contract with Inner Mongolia Yili Industrial Group, marking a significant transition to a subscription-based model for its AI-driven customer service platform [1][3] - This shift to a subscription model, referred to as Model as a Service (MaaS), is expected to enhance operational efficiency and customer retention for both companies [1][2] - The partnership has been ongoing since 2021, with Xiao-I providing advanced AI solutions tailored for the fast-moving consumer goods (FMCG) sector, particularly benefiting Yili's diverse product lines [2][3] Company Overview - Xiao-I Corporation is a leading cognitive intelligence enterprise in China, specializing in a wide range of AI solutions including natural language processing, voice and image recognition, and machine learning [4] - The company has developed a robust portfolio of cognitive intelligence technologies since its establishment in 2001, aimed at promoting industrial digitization and intelligent transformation [4]

SHANGHAI, Sept. 9, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading artificial intelligence company, announces that it signed a strategic partnership with the National Association of the Deaf (the "NAD"), a premier American organization dedicated to improving the quality of life for deaf and hard of hearing individuals. This collaboration aims to leverage AI technology to break down communication barriers and enhance accessibility for the deaf community.The NAD, ...

Core Viewpoint - Xiao-I Corporation projects a 25% increase in revenue for the fiscal year ending December 31, 2024, expecting approximately $73 million compared to $59 million in 2023, driven by successful AI technology deployment and a strategic focus on profitability [1][2]. Financial Performance - The company anticipates a revenue increase from $59 million in fiscal year 2023 to approximately $73 million in fiscal year 2024, representing a 25% growth [1]. - A reduction in research and development (R&D) expenses is expected, contributing to improved profit margins and a continued reduction in losses [1]. Strategic Focus - The CEO emphasized the maturity and optimization of AI systems, allowing for decreased R&D spending, which aligns with the company's strategy to enhance financial performance [1]. - The company aims to leverage refined AI technologies to drive sustainable growth and create long-term value for shareholders [2]. Company Overview - Xiao-I Corporation is a leading cognitive intelligence enterprise in China, offering a range of AI solutions including natural language processing, voice and image recognition, and machine learning [3]. - Since its inception in 2001, the company has developed a diverse portfolio of cognitive intelligence technologies applicable to various business cases, promoting industrial digitization and intelligent transformation [3].

Core Viewpoint - The Portnoy Law Firm has initiated an investigation into Xiao-I Corporation for possible securities fraud following a significant drop in the price of its American depositary shares (ADSs) since its IPO [1][2]. Group 1: Company Overview - Xiao-I Corporation launched its initial public offering (IPO) on March 8, 2023, selling 5.7 million ADSs at a price of $6.80 each [2]. - The price of Xiao-I's ADSs has significantly decreased since the IPO, resulting in financial losses for investors [2]. Group 2: Legal Actions - The Portnoy Law Firm is considering filing a class action lawsuit on behalf of investors who have suffered losses due to the alleged corporate wrongdoing [1]. - Investors are encouraged to contact the law firm for a complimentary case evaluation and to discuss their legal rights regarding potential claims [1].

SHANGHAI, Aug. 21, 2024 /PRNewswire/ -- Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI), a leading artificial intelligence company, today announces that the previously announced change of the ratio of its American Depositary Shares (the "ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00005 per share, from the current ADS Ratio of one ADS to one-third of an ordinary share to a new ADS Ratio of one ADS to 3 ordinary shares will be effective on August 23, 2024 (U.S. Eastern Time) ...