{"id":795153,"date":"2024-12-16T13:41:46","date_gmt":"2024-12-16T18:41:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/"},"modified":"2024-12-16T13:41:46","modified_gmt":"2024-12-16T18:41:46","slug":"levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/","title":{"rendered":"Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI"},"content":{"rendered":"
\n

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Xiao-I Corporation<\/strong> (“Xiao-I Corporation” or the “Company”) (NASDAQ: AIXI) of a class action securities lawsuit.<\/p>\n

\n CLASS DEFINITION: <\/strong>The lawsuit seeks to recover losses on behalf of Xiao-I Corporation investors who were adversely affected by alleged securities fraud between March 9, 2023 and July 12, 2024. Follow the link below to get more information and be contacted by a member of our team:<\/p>\n

\n https:\/\/zlk.com\/pslra-1\/xiao-i-corporation-lawsuit-submission-form?prid=116418&wire=3<\/a>\n <\/p>\n

\n AIXI<\/strong> investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com<\/a>\u00a0or by telephone at (212) 363-7500.<\/p>\n

\n CASE DETAILS: <\/strong>The filed complaint alleges that defendants made false statements and\/or concealed that: (i) defendants had downplayed the true scope and severity of risks that Xiao-I faced due to certain of its Chinese shareholders\u2019 non-compliance with foreign investment enterprises established by way of round-tripping, including the Company\u2019s inability to use offering proceeds for intended business purposes; (ii) Xiao-I had failed to comply with Generally Accepted Accounting Principles in preparing its financial statements; (iii) defendants had overstated Xiao-I\u2019s efforts to remediate material weaknesses in the Company\u2019s financial controls; (iv) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (v) Xiao-I had downplayed the significant negative impact that such expenses would have on the Company\u2019s business and financial results; (vi) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; (vii) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ\u2019s Minimum Bid Price Requirement; and (viii) as a result, the offering documents and defendants\u2019 public statements throughout the class period were materially false and\/or misleading and failed to state information required to be stated therein.<\/p>\n

\n WHAT’S NEXT? <\/strong>If you suffered a loss in Xiao-I Corporation during the relevant time frame, you have until December 16, 2024<\/strong>\u00a0to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.<\/p>\n

\n NO COST TO YOU: <\/strong>If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.<\/strong><\/p>\n

\n WHY LEVI & KORSINSKY: <\/strong>Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services\u2019 Top 50 Report as one of the top securities litigation firms in the United States.<\/p>\n

\n CONTACT:<\/strong>
\n
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com<\/a>\u00a0
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com<\/a>\u00a0<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Xiao-I Corporation (“Xiao-I Corporation” or the “Company”) (NASDAQ: AIXI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Xiao-I Corporation investors who were adversely affected by alleged securities fraud between March 9, 2023 and July 12, 2024. Follow the link below to get more information and be contacted by a member of our team: https:\/\/zlk.com\/pslra-1\/xiao-i-corporation-lawsuit-submission-form?prid=116418&wire=3 AIXI investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com\u00a0or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and\/or concealed that: (i) defendants had downplayed the true scope and severity of risks … <\/p>\n

Continue reading “Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-795153","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLevi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in Xiao-I Corporation (“Xiao-I Corporation” or the “Company”) (NASDAQ: AIXI) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Xiao-I Corporation investors who were adversely affected by alleged securities fraud between March 9, 2023 and July 12, 2024. Follow the link below to get more information and be contacted by a member of our team: https:\/\/zlk.com\/pslra-1\/xiao-i-corporation-lawsuit-submission-form?prid=116418&wire=3 AIXI investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com\u00a0or by telephone at (212) 363-7500. 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CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Xiao-I Corporation investors who were adversely affected by alleged securities fraud between March 9, 2023 and July 12, 2024. Follow the link below to get more information and be contacted by a member of our team: https:\/\/zlk.com\/pslra-1\/xiao-i-corporation-lawsuit-submission-form?prid=116418&wire=3 AIXI investors may also contact Joseph E. Levi, Esq. via email at\u00a0jlevi@levikorsinsky.com\u00a0or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and\/or concealed that: (i) defendants had downplayed the true scope and severity of risks … Continue reading \"Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/","og_site_name":"Market Newsdesk","article_published_time":"2024-12-16T18:41:46+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxOTk0NyM2NjM5NDg0IzIwMjA0MjY=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI","datePublished":"2024-12-16T18:41:46+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/"},"wordCount":520,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTMxOTk0NyM2NjM5NDg0IzIwMjA0MjY=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/levi-korsinsky-reminds-xiao-i-corporation-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-december-16-2024-aixi-2\/","name":"Levi & Korsinsky Reminds Xiao-I Corporation Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 \u2013 AIXI - 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