Shareholders that lost money on Xiao-I Corporation (AIXI) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More

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].