Xiao-I Corporation Faces Class Action Lawsuit Over Alleged Securities Fraud

AIXI INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Xiao-I Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - XIAO-I (NASDAQ:AIXI)

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Xiao-I Corp. ("Xiao-I" or "the Company") AIXI and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Xiao-I securities between March 9, 2023, and July 12, 2024, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/AIXI. Case Details The claim arises on July 15, 2024, during pre-market hours, Xiao-I issued a press release announcing "that it received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement. The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, the Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that the Offering Documents and 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' 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. Following this news, Xiao-I's ADS price fell 2.28% to close at approximately $0.67 per ADS on July 15, 2024. What's Next? A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/AIXI or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Xiao-I you have until December 16, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. There is No Cost to You We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful. Why Bronstein, Gewirtz & Grossman Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | [email protected] Market News and Data brought to you by Benzinga APIs

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Xiao-I Corporation (AIXI) Investors - XIAO-I (NASDAQ:AIXI)

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of Xiao-I Corporation ("Xiao-I" or the "Company") AIXI investors who purchased: (a) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's March 2023 initial public offering (the "IPO" or "Offering"); and/or (b) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"). Xiao-I investors have until December 16, 2024 to file a lead plaintiff motion. 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 888-638-4847 or by email to [email protected]. On or about March 9, 2023, Xiao-I conducted its IPO, issuing 5.7 million ADSs to the public at the Offering price of $6.80 per ADS for gross proceeds of $38.76 million. On September 25, 2023, Xiao-I issued a press release announcing inter alia, a net loss of $18.8 million for the first half of 2023, and revealing that its "[t]otal operating expenses" increased 355% year over year, and R&D expenses "grew by 708% year over year." On this news, Xiao-I's ADS price fell $2.70, or 14.22%, to close at $16.29 per ADS on September 25, 2023. Then, on April 30, 2024, Xiao-I revealed, inter alia, FY 2023 revenues of $59.2 million as well as a net loss of $27 million, noting "[R&D] expenses . . . grew by 118.3% year over year." On this news, Xiao-I's ADS price fell $0.72, or 6.15%, to close at $10.98 per ADS on April 30, 2024. Finally, on July 15, 2024, Xiao-I announced it "received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement[.]" On this news, Xiao-I's ADS price fell $0.13, or 2.28%, to close at $5.99 per ADS on July 15, 2024. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Offering Documents and 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased Xiao-I securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241022833912/en/ Market News and Data brought to you by Benzinga APIs

AIXI INVESTOR ALERT: Edelson Lechtzin LLP Urges Xiao-I Corporation (NASDAQ: AIXI) Shareholders With Substantial Losses To Seek Leadership For The Pending Securities Fraud Class Action - XIAO-I (NASDAQ:AIXI)

NEWTOWN, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of all investors of Xiao-I Corporation AIXI that purchased or otherwise acquired (a) Xiao-I American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's public offering conducted on or about March 9, 2023; and/or (b) Xiao-I securities between March 9, 2023 and July 12, 2024, inclusive (the "Class Period"). To join this case, go HERE. Investors who purchased Edwards stock during the Class Period may move the U.S. District Court for the Southern District of New York to appoint them as lead plaintiff, no later than December 16, 2024. Please contact Edelson Lechtzin LLP to discuss your investment losses at 844-696-7492 or by e-mail at [email protected]. Background on Xiao-I Corporation Based in Shanghai, China, Xiao-I is an artificial intelligence enterprise offering various AI business solutions. The Securities Fraud Claims. The Complaint alleges that throughout the Class Period, : (i) 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; (ii) Xiao-I failed to comply with GAAP in preparing its financial statements; (iii) Defendants overstated Xiao-I's efforts to remediate material weaknesses in the Company's financial controls; (iv) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (v) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's business and financial results; (vi) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; and (vii) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ's Minimum Bid Price Requirement. On September 25, 2023, Xiao-I reported a net loss of $18.8 million for the first half of 2023, compared to a $0.6 million profit in 2022. Operating expenses rose by 355%, mainly due to a 708% increase in research and development costs, despite improved efficiency in other areas. On this news, the price of Xiao-I ADS fell $0.30 per share, or 14.22%, to close at $1.81 per share on September 25, 2023. On October 20, 2023, Xiao-I reported a $18.8 million loss and a 708% rise in R&D costs, driven by investments in AI research and cloud projects following the release of OpenAI's ChatGPT. On this news the price of Xiao-I ADS fell $0.03 per share, or 1.79%, to close at $1.65 per share on October 20, 2023. On April 30, 2024, Xiao-I announced its FY 2023 results, reporting revenues of $59.2 million, missing estimates by $30.08 million. The Company had a net loss of $27 million, up from $6 million in FY 2022. Operating expenses increased by 80.7% to $61.3 million, mainly due to a 118.3% rise in R&D costs, despite some efficiency gains in other areas. On this news, the price of Xiao-I ADS fell $0.08 per share, or 6.15%, to close at $1.22 per share on April 30, 2024. On July 15, 2024, Xiao-I issued a press release announcing that it had received a notification letter dated July 11, 2024, from the Listing Qualifications Department of NASDAQ. The letter indicated that the Company is no longer in compliance with the minimum bid price requirement as outlined in NASDAQ Listing Rule 5450(a)(1) because the Company's closing bid price per ADS has been below $1.00 for 30 consecutive business days. On this news, Xiao-I's ADS price fell 2.28% to close at approximately $0.67 per share on July 15, 2024. For more information, please contact: Marc H. Edelson, Esq. Eric Lechtzin, Esq. EDELSON LECHTZIN LLP 411 S. State Street, Suite N-300 Newtown, PA 18940 Phone: 844-696-7492 or 215-867-2399 ext. 1 Email: [email protected] Email: [email protected] Web: www.edelson-law.com Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices. This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so counsel does not represent you unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing now. Your ability to share in any potential future recovery does not depend on serving as lead plaintiff. Market News and Data brought to you by Benzinga APIs

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Xiao-I Corporation (AIXI) Investors - XIAO-I (NASDAQ:AIXI)

Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Xiao-I Corporation ("Xiao-I" or the "Company") AIXI investors who purchased: (a) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's March 2023 initial public offering (the "IPO" or "Offering"); and/or (b) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"). Xiao-I investors have until December 16, 2024 to file a lead plaintiff motion. If you suffered a loss on your Xiao-I investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/xiao-i-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights. On or about March 9, 2023, Xiao-I conducted its IPO, issuing 5.7 million ADSs to the public at the Offering price of $6.80 per ADS for gross proceeds of $38.76 million. On September 25, 2023, Xiao-I issued a press release announcing inter alia, a net loss of $18.8 million for the first half of 2023, and revealing that its "[t]otal operating expenses" increased 355% year over year, and R&D expenses "grew by 708% year over year." On this news, Xiao-I's ADS price fell $2.70, or 14.22%, to close at $16.29 per ADS on September 25, 2023. Then, on April 30, 2024, Xiao-I revealed, inter alia, FY 2023 revenues of $59.2 million as well as a net loss of $27 million, noting "[R&D] expenses . . . grew by 118.3% year over year." On this news, Xiao-I's ADS price fell $0.72, or 6.15%, to close at $10.98 per ADS on April 30, 2024. Finally, on July 15, 2024, Xiao-I announced it "received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement[.]" On this news, Xiao-I's ADS price fell $0.13, or 2.28%, to close at $5.99 per ADS on July 15, 2024. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Offering Documents and 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on LinkedIn, Twitter, or Facebook. If you purchased or otherwise acquired Xiao-I securities during the Class Period, you may move the Court no later than December 16, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241022613481/en/ Market News and Data brought to you by Benzinga APIs

Xiao-I Corporation Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before December 16, 2024 to Discuss Your Rights - AIXI

https://zlk.com/pslra-1/xiao-i-corporation-lawsuit-submission-form?prid=109164&wire=4 AIXI investors may also contact Joseph E. Levi, Esq. via email at [email protected] or 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 that Xiao-I faced due to certain of its Chinese shareholders' non-compliance with foreign investment enterprises established by way of round-tripping, including the Company's 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's efforts to remediate material weaknesses in the Company's 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's 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's Minimum Bid Price Requirement; and (viii) as a result, the offering documents and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein. WHAT'S NEXT? If you suffered a loss in Xiao-I Corporation during the relevant time frame, you have until December 16, 2024 to 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. NO COST TO YOU: 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. WHY LEVI & KORSINSKY: 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' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171 www.zlk.com

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Xiao-I Corporation Investors - XIAO-I (NASDAQ:AIXI)

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Xiao-I Corporation ("Xiao-I" or the "Company") AIXI investors who purchased: (a) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's March 2023 initial public offering (the "IPO" or "Offering"); and/or (b) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"). Xiao-I investors have until December 16, 2024 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On or about March 9, 2023, Xiao-I conducted its IPO, issuing 5.7 million ADSs to the public at the Offering price of $6.80 per ADS for gross proceeds of $38.76 million. On September 25, 2023, Xiao-I issued a press release announcing inter alia, a net loss of $18.8 million for the first half of 2023, and revealing that its "[t]otal operating expenses" increased 355% year over year, and R&D expenses "grew by 708% year over year." On this news, Xiao-I's ADS price fell $2.70, or 14.22%, to close at $16.29 per ADS on September 25, 2023. Then, on April 30, 2024, Xiao-I revealed, inter alia, FY 2023 revenues of $59.2 million as well as a net loss of $27 million, noting "[R&D] expenses, [] grew by 118.3% year over year." On this news, Xiao-I's ADS price fell $0.72, or 6.15%, to close at $10.98 per ADS on April 30, 2024. Finally, on July 15, 2024, Xiao-I announced it "received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement[.]" On this news, Xiao-I's ADS price fell $0.13, or 2.28%, to close at $5.99 per ADS on July 15, 2024. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Offering Documents and 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased Xiao-I securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241022876974/en/ Market News and Data brought to you by Benzinga APIs

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Xiao-I Corporation (AIXI) - XIAO-I (NASDAQ:AIXI)

Law Offices of Howard G. Smith reminds investors of the upcoming December 16, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of Xiao-I Corporation ("Xiao-I" or the "Company") AIXI investors who purchased: (a) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's March 2023 initial public offering (the "IPO" or "Offering"); and/or (b) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"). 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]. On or about March 9, 2023, Xiao-I conducted its IPO, issuing 5.7 million ADSs to the public at the Offering price of $6.80 per ADS for gross proceeds of $38.76 million. On September 25, 2023, Xiao-I issued a press release announcing inter alia, a net loss of $18.8 million for the first half of 2023, and revealing that its "[t]otal operating expenses" increased 355% year over year, and R&D expenses "grew by 708% year over year." On this news, Xiao-I's ADS price fell $2.70, or 14.22%, to close at $16.29 per ADS on September 25, 2023. Then, on April 30, 2024, Xiao-I revealed, inter alia, FY 2023 revenues of $59.2 million as well as a net loss of $27 million, noting "[R&D] expenses . . . grew by 118.3% year over year." On this news, Xiao-I's ADS price fell $0.72, or 6.15%, to close at $10.98 per ADS on April 30, 2024. Finally, on July 15, 2024, Xiao-I announced it "received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement[.]" On this news, Xiao-I's ADS price fell $0.13, or 2.28%, to close at $5.99 per ADS on July 15, 2024. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Offering Documents and 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Xiao-I securities during the Class Period, you may move the Court no later than December 16, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20241023746690/en/ Market News and Data brought to you by Benzinga APIs

SHAREHOLDER ALERT: Class Action Lawsuit Filed on Behalf of Xiao-I Corporation (AIXI) Investors - Holzer & Holzer, LLC Encourages Investors With Significant Losses to Contact the Firm - XIAO-I (NASDAQ:AIXI)

ATLANTA, Oct. 16, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Xiao-I Corporation ("Xiao-I" or "the Company") AIXI. The lawsuit alleges that Xiao-I's Offering Documents were negligently prepared and that Defendants' statements throughout the Class Period were materially false and misleading and/or omitted material information about the Company's business, operations, and prospects, including allegations that: (i) 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; (ii) Xiao-I failed to comply with GAAP in preparing its financial statements; (iii) Defendants overstated Xiao-I's efforts to remediate material weaknesses in the Company's financial controls; (iv) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (v) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's business and financial results; (vi) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; and (vii) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ's Minimum Bid Price Requirement. If you bought shares of Xiao-I between March 9, 2023 and July 12, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at [email protected], by toll-free telephone at (888) 508-6832 or you may visit the firm's website at www.holzerlaw.com/case/xiao-i/ to learn more. The deadline to ask the court to be appointed lead plaintiff in the case is December 16, 2024. Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content. CONTACT: Corey Holzer, Esq. (888) 508-6832 (toll-free) [email protected] Market News and Data brought to you by Benzinga APIs

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Xiao-I Corporation (AIXI) Investors

Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI) investors who purchased: (a) American depository shares ("ADSs") pursuant and/or traceable to the Offering Documents issued in connection with the Company's March 2023 initial public offering (the "IPO" or "Offering"); and/or (b) securities between March 9, 2023 and July 12, 2024, both dates inclusive (the "Class Period"). Xiao-I investors have until December 16, 2024 to file a lead plaintiff motion. If you suffered a loss on your Xiao-I investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/xiao-i-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights. On or about March 9, 2023, Xiao-I conducted its IPO, issuing 5.7 million ADSs to the public at the Offering price of $6.80 per ADS for gross proceeds of $38.76 million. On September 25, 2023, Xiao-I issued a press release announcing inter alia, a net loss of $18.8 million for the first half of 2023, and revealing that its "[t]otal operating expenses" increased 355% year over year, and R&D expenses "grew by 708% year over year." On this news, Xiao-I's ADS price fell $2.70, or 14.22%, to close at $16.29 per ADS on September 25, 2023. Then, on April 30, 2024, Xiao-I revealed, inter alia, FY 2023 revenues of $59.2 million as well as a net loss of $27 million, noting "[R&D] expenses . . . grew by 118.3% year over year." On this news, Xiao-I's ADS price fell $0.72, or 6.15%, to close at $10.98 per ADS on April 30, 2024. Finally, on July 15, 2024, Xiao-I announced it "received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement[.]" On this news, Xiao-I's ADS price fell $0.13, or 2.28%, to close at $5.99 per ADS on July 15, 2024. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Offering Documents and 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on LinkedIn, Twitter, or Facebook. If you purchased or otherwise acquired Xiao-I securities during the Class Period, you may move the Court no later than December 16, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Shareholders that lost money on Xiao-I Corporation(AIXI) should contact The Gross Law Firm about pending Class Action - AIXI - XIAO-I (NASDAQ:AIXI)

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Xiao-I Corporation AIXI. Shareholders who purchased shares of AIXI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/xiao-i-corporation-loss-submission-form/?id=109185&from=3 CLASS PERIOD: March 9, 2023 to July 12, 2024 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) defendants had downplayed the true scope and severity of risks that Xiao-I faced due to certain of its Chinese shareholders' non-compliance with foreign investment enterprises established by way of round-tripping, including the Company's 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's efforts to remediate material weaknesses in the Company's 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's 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's Minimum Bid Price Requirement; and (viii) as a result, the offering documents and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein. DEADLINE: December 16, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/xiao-i-corporation-loss-submission-form/?id=109185&from=3 NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of AIXI during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 16, 2024. There is no cost or obligation to you to participate in this case. WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: The Gross Law Firm 15 West 38th Street, 12th floor New York, NY, 10018 Email: [email protected] Phone: (646) 453-8903 Market News and Data brought to you by Benzinga APIs

Xiao-I Corporation Class Action Notice: Shareholder Rights Law Firm Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the AXIX Class Action - XIAO-I (NASDAQ:AIXI)

SAN DIEGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds shareholders that a class action was filed on behalf of all investors and entities that purchased or otherwise acquired Xiao-I Corporation AIXI ADSs pursuant and/or traceable to the Company's initial public offering ("IPO") on March 9, 2023, or between March 9, 2023 and July 12, 2024. Xiao-I conducts business through its subsidiary Shanghai Xiao-I Robot Technology Co., Ltd., which comprises the Company's AI business. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Xiao-I (AIXI) Misled Investors Regarding its Business Prospects According to the complaint, the Offering Documents in support of the Company's IPO were negligently prepared. Additionally, throughout the class period, defendants failed to disclose that: (i) 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; (ii) Xiao-I failed to comply with GAAP in preparing its financial statements; (iii) defendants overstated Xiao-I's efforts to remediate material weaknesses in the Company's financial controls; (iv) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (v) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's business and financial results; (vi) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; and (vii) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ's Minimum Bid Price Requirement. What Now: You may be eligible to participate in the class action against Xiao-I Corporation. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 16, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Xiao-I Corporation settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 [email protected] (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35055a79-0133-4ea2-8fd3-6c97f82ece41 Market News and Data brought to you by Benzinga APIs

Faruqi & Faruqi Reminds Xiao-I Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of December 16, 2024 - AIXI - XIAO-I (NASDAQ:AIXI)

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Xiao-I To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Xiao-I as a result of purchasing (a) Xiao-I American depository shares (ADSs) issued in connection with the Company's initial public offering on or about March 9, 2023 and/or (b) Xiao-I securities between March 9, 2023 and July 12, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Xiao-I Corporation ("Xiao-I" or the "Company") AIXI and reminds investors of the December 16, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing 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' 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 in the Company's financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's 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 the NASDAQ's Minimum Bid Price Requirement; and (8) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. On or around March 8, 2023, Xiao-I launched its initial public offering (IPO), selling 5.7 million American depositary shares (ADSs) at $6.80 each. Since the IPO, the price of Xiao-I's ADSs has dropped significantly, causing losses for investors. On August 10, 2023, Xiao-I Corporation filed with the U.S. Securities and Exchange Commission its amended annual report for the year ended December 31, 2022 on Form 10-K/A. In the amended annual report, Xiao-I disclosed that "However, should there be any changes to PRC laws and regulations or internal control policies of Bank of Ningbo in the future, [Zhizhen Artificial Technology (Shanghai) Company Limited, a Company subsidiary] then may be restricted from transferring funds from overseas to its capital account with Bank of Ningbo as a result." On this news, the price of Xiao-I American Depositary Shares ("ADSs") fell $0.93 per ADS, or 11.56%, to close at $7.11 on August 11, 2023. On July 15, 2024, Xiao-I issued a press release announcing "that it received a notification letter dated July 11, 2024 (the 'Deficiency Letter') from the Listing Qualifications Department of [t]he [NASDAQ], indicating that the Company is no longer in compliance with the minimum bid price requirement as set forth in Nasdaq Listing Rule 5450(a)(1) as the Company's closing bid price per [ADS] . . . has been below $1.00 for a period of 30 consecutive business days." On this news, Xiao-I's ADS price fell 2.28% to close at approximately $0.67 per ADS on July 15, 2024. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Xiao-I's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Xiao-I Corporation class action, go to www.faruqilaw.com/AIXI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c031ae5-97df-4e30-b670-4f1c9f067716 Market News and Data brought to you by Benzinga APIs

Investor Notice: Robbins LLP Informs Stockholders of the Class Action Lawsuit Filed Against Xiao-I Corporation - XIAO-I (NASDAQ:AIXI)

SAN DIEGO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Robbins LLP announces that a shareholder filed a class action on behalf of all investors and entities that purchased or otherwise acquired Xiao-I Corporation AIXI ADSs pursuant and/or traceable to the Company's initial public offering ("IPO") on March 9, 2023, or between March 9, 2023 and July 12, 2024. Xiao-I conducts business through its subsidiary Shanghai Xiao-I Robot Technology Co., Ltd. ("Shanghai Xiao-i"), which comprises the Company's AI business. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Xiao-I (AIXI) Misled Investors Regarding its Business Prospects According to the complaint, the Offering Documents in support of the Company's IPO were negligently prepared. Additionally, throughout the class period, defendants failed to disclose that: (i) 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; (ii) Xiao-I failed to comply with GAAP in preparing its financial statements; (iii) defendants overstated Xiao-I's efforts to remediate material weaknesses in the Company's financial controls; (iv) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (v) Xiao-I downplayed the significant negative impact that such expenses would have on the Company's business and financial results; (vi) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; and (vii) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ's Minimum Bid Price Requirement. What Now: You may be eligible to participate in the class action against Xiao-I Corporation. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by December 16, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Xiao-I Corporation settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35055a79-0133-4ea2-8fd3-6c97f82ece41 Aaron Dumas, Jr. Robbins LLP 5060 Shoreham Pl., Ste. 300 San Diego, CA 92122 [email protected] (800) 350-6003 www.robbinsllp.com https://www.facebook.com/RobbinsLLP/ https://www.linkedin.com/company/robbins-llp/ Market News and Data brought to you by Benzinga APIs