#USA #New York #Xiao-I Corporation #AIXI #Rosen Law Firm

Investors Respond to Xiao-I Corporation Securities Lawsuit

In a significant move within the financial landscape, the Rosen Law Firm has alerted individuals who invested in Xiao-I Corporation (NASDAQ: AIXI) about a crucial opportunity to join a class action lawsuit. This comes following revelations concerning potential misrepresentation in the company’s initial public offering (IPO) and subsequent securities offerings.

Background of the Case

The lawsuit pertains to American Depository Shares (ADSs) tied to the offering documents from the IPO conducted around March 9, 2023. Investors who purchased these shares are urged to take action. The Class Period extends from March 9, 2023, through July 12, 2024, and claims are being filed to hold the company accountable for alleged unjust practices that may have led to investment losses.

Why You Should Consider Joining

For anyone who invested during the specified period, the firm emphasizes that there’s a possibility for compensation without needing to pay up-front fees, thanks to a contingency fee arrangement. Interested parties can either fill out the submission form available on the firm's website or contact an attorney directly. The deadline to file as a lead plaintiff is set for December 16, 2024. This is critical as a lead plaintiff plays an essential role in representing the interests of all affected investors.

What the Lawsuit Claims

The accusations detailed in the lawsuit involve several serious allegations against Xiao-I Corporation and its executives, highlighting issues such as:

• - Misleading Statements: The defendants allegedly minimized the scale of risks associated with regulatory compliance, particularly concerning Circular 37 Registration, impacting the company’s ability to effectively utilize proceeds from the IPO.
• - Financial Misrepresentation: The lawsuit asserts that Xiao-I's financial statements failed to align with the Generally Accepted Accounting Principles (GAAP).
• - Overstated Competitiveness: There were claims that the financial structure of the company was presented inaccurately, leading investors to believe in a stronger positioning in the highly competitive AI market.
• - Compliance Issues with NASDAQ: The company purportedly overstated its ability to meet NASDAQ’s minimum bid price requirements, which has potentially jeopardized investor confidence.

When these facts emerged, they led to significant downturns in share value, echoing further concerns about the firm’s operational integrity.

Selecting the Right Legal Counsel

Navigating class action lawsuits can be complex. The Rosen Law Firm advises investors to choose experienced legal representation, noting that many firms don’t engage directly in litigation, instead acting as intermediaries. Investors should seek firms like Rosen, which have a proven track record and substantial experience specifically in securities class actions. The firm has highlighted its successful settlements, including historic cases against Chinese companies, reinforcing its capacity to advocate on behalf of investors effectively.

Conclusion

For investors looking to protect their interests against Xiao-I Corporation’s alleged misconduct, now is the time to consider joining the class action. As reminders go out and the deadline looms, it’s paramount to stay informed and proactive. Investors can learn more by visiting the Rosen Law Firm’s official website or connecting through their provided contact details.

For more frequent updates on this evolving situation, investors are encouraged to follow the Rosen Law Firm on various social media platforms like LinkedIn and Twitter.

In conclusion, financial accountability is pivotal, and through collective action, there’s a chance for recovering losses attributed to potential corporate misdeeds.