ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages Xiao-I Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – AIXI

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 - 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 and misleading statements regarding its financial health and compliance with regulations, including downplaying risks related to its Chinese shareholders and failing to comply with U.S. GAAP [5]. - Specific claims include overstating AI capabilities, R&D resources, and the potential negative impact of significant R&D expenses on business performance [5]. - The lawsuit also claims 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 [5].