{"id":6883,"date":"2024-12-05T09:19:00","date_gmt":"2024-12-05T02:19:00","guid":{"rendered":"https:\/\/www.globenewswire.com\/news-release\/2024\/12\/05\/2992026\/673\/en\/AIXI-DEADLINE-ROSEN-A-GLOBAL-AND-LEADING-LAW-FIRM-Encourages-Xiao-I-Corporation-Investors-to-Secure-Counsel-Before-Important-December-16-Deadline-in-Securities-Class-Action-AIXI.html2992"},"modified":"2024-12-05T09:23:58","modified_gmt":"2024-12-05T02:23:58","slug":"aixi-deadline-rosen-a-global-and-leading-law-firm-encourages-xiao-i-corporation-investors-to-secure-counsel-before-important-december-16-deadline-in-securities-class-action-aixi","status":"publish","type":"post","link":"https:\/\/cryptoinsider.asia\/vi\/aixi-deadline-rosen-a-global-and-leading-law-firm-encourages-xiao-i-corporation-investors-to-secure-counsel-before-important-december-16-deadline-in-securities-class-action-aixi\/","title":{"rendered":"AIXI DEADLINE: ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Xiao-I Corporation Investors to Secure Counsel Before Important December 16 Deadline in Securities Class Action - AIXI"},"content":{"rendered":"\n

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) — <\/p>\n

WHY:<\/strong> Rosen Law Firm, a global investor rights law firm, reminds purchasers of Xiao-I Corporation (NASDAQ: AIXI): (i) American depository shares (\u201cADSs\u201d) pursuant and\/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about March 9, 2023 (the “IPO” or “Offering”); and\/or (ii) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the \u201cClass Period\u201d), of the important December 16, 2024 lead plaintiff deadline. <\/strong><\/p>\n

SO WHAT:<\/strong> If you purchased Xiao-I ADSs pursuant and\/or traceable to the IPO and\/or securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.<\/p>\n

WHAT TO DO NEXT:<\/strong> To join the Xiao-I class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=25023<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com<\/a> for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 16, 2024.<\/strong> A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.<\/p>\n

WHY ROSEN LAW:<\/strong> We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. <\/strong> Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

DETAILS OF THE CASE:<\/strong> According to the lawsuit, in the Offering Documents and throughout the Class Period, defendants made false and\/or misleading statements and\/or failed to disclose that: (1) 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 Circular 37 Registration, which imposes certain registration requirements on Chinese residents that contribute domestic assets or interests to offshore companies, including Xiao-I\u2019s inability to use Offering proceeds for intended business purposes; (2) Xiao-I failed to comply with the U.S.\u2019s Generally Accepted Accounting Principles (\u201cGAAP\u201d) in preparing its financial statements; (3) defendants overstated Xiao-I\u2019s efforts to remediate material weaknesses in Xiao-I\u2019s financial controls; (4) Xiao-I was forced to incur significant research and development (\u201cR&D\u201d) expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on Xiao-I\u2019s business and financial results; (6) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; (7) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with NASDAQ\u2019s listing requirements, including, inter alia<\/em>, that its ADSs maintain a minimum closing bid price of $1.00 per share, (the \u201cMinimum Bid Price Requirement\u201d); and (8) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.<\/p>\n

To join the Xiao-I class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=25023<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com<\/a> for information on the class action.<\/p>\n

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor\u2019s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

_______________________<\/p>\n

Contact Information:<\/p>\n

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com<\/a>
www.rosenlegal.com<\/a><\/p>\n

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

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) — WHY:\u00a0Rosen Law Firm, a global investor rights law firm, reminds purchasers of Xiao-I Corporation (NASDAQ: AIXI): (i) American depository shares (\u201cADSs\u201d) pursuant and\/or traceable to the Offering Documents issued in connection with the Company’s initial public offering conducted on or about March 9, 2023 (the “IPO” or “Offering”); and\/or (ii) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the \u201cClass Period\u201d), of the important December 16, 2024…<\/p>\n","protected":false},"author":1,"featured_media":6884,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[75,1406],"tags":[],"class_list":["post-6883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-globenewswire"],"yoast_head":"\nAIXI DEADLINE: ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Xiao-I Corporation Investors to Secure Counsel Before Important December 16 Deadline in Securities Class Action - 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