#United States #New York #Levi & Korsinsky #Xiao-I Corporation #AIXI

Important Notice for Xiao-I Corporation Investors

Recent news regarding Xiao-I Corporation (NASDAQ: AIXI) has significant implications for investors. Levi & Korsinsky, LLP is notifying all shareholders of a class action securities lawsuit that has been filed to protect investor rights and recover potential losses incurred between March 9, 2023, and July 12, 2024.

Class Action Overview

The class action lawsuit addresses alleged securities fraud affecting shareholders. This claim stems from various misrepresentations made by the company regarding business risks and operational transparency. If you have invested in Xiao-I during the specified period, it is crucial to understand the details surrounding this lawsuit to determine your rights and options.

Allegations of Misconduct

The complaint highlights several critical issues faced by investors:

• - Undoubtedly Misstated Risk Levels: The defendants reportedly downplayed the genuine scope of risks associated with non-compliance issues concerning foreign investment by certain Chinese shareholders. This misrepresentation led to a misleading perception of the company's financial health.
• - Accounting Irregularities: It is alleged that Xiao-I failed to adhere to Generally Accepted Accounting Principles in their financial statements, which raises serious questions about the integrity of their reported financial conditions.
• - Overstated Remediation Efforts: Claims have been made regarding inaccurate representations of the company’s efforts to handle material weaknesses in its financial controls, potentially leading investors to believe that the company was in a more secure position than it actually was.
• - Research and Development Expenditure: Xiao-I was also found to have incurred substantial R&D expenses essential for competing effectively in the competitive AI market, yet downplayed the negative financial impacts of these costs.
• - Compliance Issues: The lawsuit notes the risk of Xiao-I failing to meet the NASDAQ Minimum Bid Price Requirement, raising alarms about continued listing on the exchange and operational viability.

Next Steps for Investors

If you have experienced financial losses from your investments in Xiao-I Corporation, you have until December 16, 2024, to submit a request for appointment as lead plaintiff in this case. However, potential class members can still participate in any eventual recovery regardless of whether they take up this lead role.

No Financial Obligation

Participation in the class action does not incur any costs for investors, allowing shareholders to seek compensation without worrying about upfront payments or legal fees. The firm leading the case, Levi & Korsinsky, has a solid reputation in this field, having recovered significant sums for investors in prior cases over the last 20 years.

Why Choose Levi & Korsinsky?

With an experienced team of over 70 members, the firm is recognized as one of the top securities litigation practices in the United States. They are highly regarded for their successful track record, which includes securing hundreds of millions of dollars for shareholders affected by corporate misconduct. Having been consistently ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, they have demonstrated their commitment to achieving justice for aggrieved investors.

Get Involved

For more information or immediate guidance on joining the class action, contact Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500. For further details on submitting your participation request, visit the official Levi & Korsinsky website or access the detailed submission form provided.

Stay informed, protect your investments, and ensure that your rights as a shareholder are upheld through this ongoing legal process.