The Law Offices of Frank R. Cruz announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Noalan v. XTI Aerospace, Inc. et al., Case No. 26-cv-07378, on behalf of persons and entities that purchased or otherwise acquired XTI Aerospace, Inc. (“XTI Aerospace” or the “Company”) (NASDAQ: XTIA) securities between April 15, 2026 and August 17, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have until 60 days from this notice to move the Court to serve as lead plaintiff in this action.
IF YOU SUFFERED A LOSS ON YOUR XTI AEROSPACE, INC. (XTIA) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.
What Happened?
On August 17, 2026, after the market closed, XTI Aerospace revealed that it could not timely file its Form 10-Q because, among other things, it is “in the process of completing an internal review of the Registrant’s former Chief Executive Officer, who resigned on August 17, 2026, and other related corporate governance matters.”
On this news, XTI Aerospace’s stock fell $0.25 per share, or 15.9%, to close at $1.32 on August 18, 2026, on unusually heavy trading volume.
What Is The Lawsuit About?
The complaint filed in this class action alleges that between April 15, 2026 and August 17, 2026, 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, Defendants failed to disclose to investors that: (1) that senior executives had engaged in certain undisclosed activities; (2) that these activities required Board review; (3) that there was reason to doubt the effectiveness of the Company’s disclosure controls and procedures; (4) that, as a result, the Company would be unable to timely file its earnings reports; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired XTI Aerospace securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.
Contact Us To Participate or Learn More:
If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Telephone: 310-914-5007
Email: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260828355129/en/
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