AIXI Investors Have Opportunity to Lead Xiao-I Corporation Securities Fraud Lawsuit | PR Newswire [Video]

, /PRNewswire/ –Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI).

Class Period: March 9, 2023 – July 12, 2024

Lead Plaintiff Deadline: December 16, 2024

Investors suffering losses on their Xiao-I investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to [email protected].

The complaint filed allegesthat, throughout the Class Period, Defendants failed to disclose to investors that: (1) Defendants had downplayed the true scope and severity of risks that Xiao-I faced due to certain of its Chinese shareholders’ non-compliance with Circular 37 Registration, including the Company’s inability to use Offering proceeds for intended business purposes; (2) Xiao-I failed to comply with GAAP in preparing its financial statements; (3) Defendants overstated Xiao-I’s efforts to remediate material weaknesses …