Company: XERI
Filing Date: 2025-01-23
Form Type: 8-K
Source: 0001477932-25-000403
Chunk: 0

Company: XERIANT, INC.
Filing Date: 2025-01-23
Form: 8-K
Item: Item 8.01
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Item 8.01 Other Events.

On February 29, 2024, Xeriant, Inc. (the “ Company”) filed an Amended Complaint in the United States District Court for the Southern District of New York against XTI Aircraft Co. (“ XTI”), the wholly owned and principal operating subsidiary of XTI Aerospace Inc. (Nasdaq: XTIA). alleging that XTI, engaged over a period of time in (1) intentional fraudulent conduct against Xeriant, (2) fraudulent concealment, (3) breach of contract, (4) quantum meruit, (5) unjust enrichment, (6) unfair competition, and (7) misappropriation of confidential information, and sought, among other things, damages in excess of $500 million. XTI moved before the Court on March 13, 2024, seeking to dismiss all Xeriant’s claims except for breach of contract. Xeriant argued before the Court that all of these claims were legitimately alleged and should not be dismissed. On January 14, 2025, the Court agreed with Xeriant’s position that its claims were validly alleged and denied all of XTI’s arguments in their entirety. The Court has ordered that XTI must file an Answer to the Amended Complaint, and Xeriant intends to proceed to take discovery.

On January 22, 2025 the Company issued a press release relating to the Court’s decision. A copy of the Press Release is attached as Exhibit 99.2.

  Item 9.01 Financial Statements and Exhibits  
  (d) Exhibits                                 

  Exhibit Number      Description                                                                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────
  99.1                Court Opinion and Order                                                      
  99.2                Press Release dated January 22, 2025                                         
  Item 104            Cover Page Interactive Data File (embedded within the Inline XBRL document)  

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

                              XERIANT, INC.                                            
  Date: January 23, 2025      By:                /s/ KEITH DUFFY                       
                                                 Keith Duffy, Chief Executive Officer  

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