Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Acadia Healthcare, WM Technology, and Xiao-I and Encourages Investors to Contact the Firm

By: Bragar Eagel & Squire via GlobeNewswire

October 29, 2024 at 21:00 PM EDT

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of against Acadia Healthcare Company, Inc. (NASDAQ: ACHC), WM Technology, Inc. (NASDAQ: MAPS), and Xiao-I Corporation (NASDAQ: AIXI). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Acadia Healthcare Company, Inc. (NASDAQ: ACHC)

Class Period: February 28, 2020 - September 26, 2024

Lead Plaintiff Deadline: December 16, 2024

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Acadia Healthcare’s business model centered on holding vulnerable people against their will in its facilities, including in cases where it was not medically necessary to do so; (2) while in Acadia Healthcare facilities, many patients were subjected to abuse; (3) Acadia Healthcare deceived insurance providers into paying for patients to stay in its facilities when it was not medically necessary; and (4) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Acadia Healthcare class action go to: https://bespc.com/cases/ACHC

WM Technology, Inc. (NASDAQ: MAPS)

Class Period: May 25, 2021 - September 24, 2024

Lead Plaintiff Deadline: December 16, 2024

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) WM Technology’s monthly average user metrics (MAUs) were severely inflated for years; and (2) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the WM Technology class action go to: https://bespc.com/cases/MAPS

Xiao-I Corporation (NASDAQ: AIXI)

Class Period: (i) Xiao-I American depository shares ("ADSs") 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; and/or (ii) securities between March 9, 2023 and July 12, 2024

Lead Plaintiff Deadline: December 16, 2024

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.

For more information on the Xiao-I class action go to: https://bespc.com/cases/AIXI

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com