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

AIXI Investors Have Chance to Lead Securities Lawsuit Against Xiao-I Corporation

The Rosen Law Firm, a renowned global advocate for investor rights, has extended a notable reminder to purchasers of Xiao-I Corporation's American depository shares (ADSs) regarding an opportunity to join a class-action lawsuit. The deadline for investors with losses exceeding $100,000 to take the lead in this important action is December 16, 2024, following the firm’s announcement on its commitment to assist those affected by the company’s alleged mishandling of operations.

Background of the Case

The situation revolves around Xiao-I Corporation (NASDAQ: AIXI), which has faced scrutiny since its initial public offering (IPO) on March 9, 2023. According to Rosen Law Firm, individuals who purchased ADSs during the IPO or within the period from March 9, 2023 to July 12, 2024 may be entitled to compensation without upfront legal fees.

Investors participating in this class action have the opportunity to represent other affected shareholders. It’s crucial that those interested take specific steps to ensure they can serve as lead plaintiffs, as they will guide the litigation process forward. The legal team at Rosen emphasizes the importance of comprehensive representation, encouraging those with claims to make informed choices regarding their legal counsel.

Allegations Against Xiao-I

According to the filed lawsuit, several serious allegations have emerged against Xiao-I Corporation. These include misleading disclosures regarding compliance with Chinese regulations that affect shareholders of companies that contribute domestic assets to offshore entities. Other claims allege that Xiao-I failed to adhere to Generally Accepted Accounting Principles (GAAP) in its financial reporting, downplaying significant risks that could impede its business operations.

Moreover, the lawsuit outlines how the company overstated its research and development (R&D) expenditures and capabilities within the competitive AI landscape. As the case unfolds, it is evident that these misrepresentations have contributed to a substantial likelihood that Xiao-I may not satisfy NASDAQ's strict listing requirements, particularly concerning its stock price validity.

Rosen Law Firm's Reputation

The Rosen Law Firm has built a stellar reputation for advocating on behalf of investors, securing large settlements in similar cases involving Chinese companies. Their track record demonstrates a focus on transparency and results, with significant recoveries for clients in the past. The firm’s leadership in this sector is underscored by its recognition as one of the top firms for securities settlements and its successful history in handling complex litigation.

Steps for Interested Investors

For investors with claims wanting to explore participation in this lawsuit, the process is straightforward. Interested parties should visit the Rosen Law Firm's dedicated link to submit their information, or contact attorney Phillip Kim directly for further inquiries. It is essential that potential lead plaintiffs act against the backdrop of a looming deadline to optimize their chances for leading the case.

Important Notes:

• - Class Status: As of now, the class action has not been certified, meaning individuals have the option to represent themselves or engage external legal counsel as needed."
• - Future Steps: Investors are encouraged not to overlook the opportunity for recovery and should consider joining the class before the deadline.

Through proactive legal strategies, affected shareholders can take steps to reclaim their investments and potentially recover damages incurred as a result of Xiao-I Corporation's alleged misconduct. Keeping abreast of important dates and engaging with competent legal representation will be vital for success in this evolving situation.