Xiao-I Corporation

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Xiao-I Corporation (NASDAQ: AIXI) resulting from allegations that Xiao-I may have issued materially misleading business information to the investing public.

If you purchased Xiao-I securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Xiao-I Corporation securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On August 10, 2023, Xiao-I Corporation filed with the U.S. Securities and Exchange Commission its amended annual report on Form 10-K/A for the year ended December 31, 2022. In the amended annual report, Xiao-I disclosed that “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, Xiao-I American Depositary Shares’ (“ADSs”) fell $0.93 per ADS, or 11.6%, to close at $7.11 per ADS on August 11, 2023.

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Company Name: Xiao-I Corporation
Stock Symbol: AIXI
Class Period: N/A
Court: N/A

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