Xiao-I Corporation Investigation Triggers Investor Concern

Legal Investigation Unveils Xiao-I Corporation’s Financial Woes

Glancy Prongay & Murray LLP (“GPM”), a distinguished shareholder rights law firm, has initiated an inquiry on behalf of investors in Xiao-I Corporation (“Xiao-I” or the “Company”) following suspicions of potential violations of federal securities laws.

Xiao-I Corporation’s Rollercoaster Ride in the Stock Market

Xiao-I embarked on its IPO journey around March 9, 2023, raising substantial capital by issuing American depository shares (“ADSs”) to the public. However, significant turbulence rocked the Company’s ship in the following months.

Financial Storm Hits Xiao-I Corporation

In a recent press release on September 25, 2023, Xiao-I announced a staggering net loss, triggering a drastic drop in its ADS price. The storm continued to rage as FY 2023 financial results released on April 30, 2024, painted a bleak picture with increased losses, further eroding investor confidence.

Xiao-I Corporation’s Compliance Woes Unveiled

Adding to the Company’s woes, a deficiency letter from NASDAQ regarding non-compliance with the minimum bid price requirement further shook the market’s perception of Xiao-I. This compliance issue culminated in another decline in the Company’s ADS price on July 15, 2024, completing Xiao-I’s unsettling financial narrative.

Glancy Prongay & Murray LLP’s Rising Reputation

Glancy Prongay & Murray LLP’s track record in representing investors and consumers in securities litigation has solidified its reputation as a premier law firm in the industry. With numerous successful cases under its belt, the firm’s commitment to seeking justice for investors remains unwavering.

The Road Ahead for Xiao-I Corporation

As the investigation into Xiao-I’s financial practices unfolds, the future of the Company hangs in uncertainty. Investors await further developments, hoping for transparency and accountability in restoring confidence in Xiao-I’s market standing.