Attention Shareholders: Important Update on Xiao-i Corporation Investment Losses and Upcoming Deadlines

Xiao-i Corporation Faces Class Action Lawsuit Over Investment Losses

Overview

New York, December 9, 2024 – Pomerantz LLP has announced that a class action lawsuit has been filed against Xiao-i Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI) and certain officers and directors. The lawsuit, filed in the United States District Court for the Southern District of New York, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or acquired Xiao-I American depository shares (“ADSs”) and securities between March 9, 2023, and July 12, 2024.

The lawsuit alleges that Xiao-I and its executives made false and misleading statements about the company’s financial health and business prospects. Shareholders who suffered losses due to these alleged misrepresentations may be eligible to participate in the class action lawsuit.

Impact on Shareholders

For shareholders who purchased Xiao-I ADSs or securities during the Class Period, this class action lawsuit represents an opportunity to seek recourse for any investment losses incurred as a result of the alleged misrepresentations made by the Company and its executives. By participating in the lawsuit, shareholders may be able to recover damages and hold Xiao-I accountable for its actions.

Impact on the World

The filing of a class action lawsuit against Xiao-I Corporation serves as a reminder of the importance of transparency and accuracy in financial reporting and disclosures. Companies that provide false or misleading information to investors not only harm shareholders but also erode trust in the financial markets. As regulatory authorities take action against companies that engage in fraudulent practices, it sends a strong message that corporate misconduct will not be tolerated.

Conclusion

In conclusion, the class action lawsuit against Xiao-I Corporation highlights the need for companies to uphold ethical business practices and provide accurate information to their shareholders. Shareholders who have suffered losses due to alleged misrepresentations by Xiao-I and its executives now have the opportunity to seek justice through legal recourse. As this case unfolds, it underscores the importance of holding corporations accountable for their actions and ensuring transparency in the financial markets.