XIAO-I Alert: Bragar Eagel & Squire, P.C. Investor Reminder
New York, November 24, 2024 – Bragar Eagel & Squire, P.C., a well-known law firm focusing on stockholder rights, wants investors to know that a class action lawsuit has been filed against Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI). The lawsuit, filed in the United States District Court for the Southern District of New York, is on behalf of all individuals and entities who bought or acquired Xiao-I American depository shares (“ADSs”) during the initial public offering on March 9, 2023, and/or securities between March 9, 2023, and July 12, 2024 (the “Class Period”). If you fit this description, you have until December 16, 2024, to apply to be the lead plaintiff in the case.
The lawsuit alleges that Xiao-I’s Offering Documents were not prepared with the necessary care and that certain statements made by the Company during the Class Period were false and misleading. The allegations include claims that Xiao-I didn’t disclose the full extent of the risks it faced due to non-compliance with certain regulations, like Circular 37 Registration. It is also alleged that Xiao-I failed to follow accounting standards, exaggerated efforts to improve financial controls, and understated the impact of research and development expenses on its financial health. These issues could have put Xiao-I at risk of not meeting NASDAQ’s Minimum Bid Price Requirement.
If you purchased Xiao-I shares during the outlined periods and suffered losses, know that you have rights. You can reach out to Bragar Eagel & Squire, P.C. through Brandon Walker or Marion Passmore via email at investigations@bespc.com or by phone at (212) 355-4648. Alternatively, you can fill out a contact form on their website. Remember, there is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a well-respected law firm with a nationwide presence, representing both individual and institutional investors in a variety of complex litigation cases. To learn more about the firm, visit www.bespc.com. This is attorney advertising, and it’s important to note that past results do not guarantee similar outcomes. For more information, you can contact Bragar Eagel & Squire, P.C. through the information provided above.
