#USA #New York #Class Action #Legal Action #SoundHound AI

Important News for SoundHound Investors

In a significant update for investors of SoundHound AI, Inc. (NASDAQ: SOUN), the renowned law firm Bronstein, Gewirtz & Grossman, LLC has announced the filing of a class action lawsuit against the company and several of its officers. This lawsuit arises from substantial complaints regarding misleading statements made about the company’s performance and internal controls over financial reporting.

Understanding the Lawsuit

The class action lawsuit in question seeks to represent all individuals and entities that purchased or acquired SoundHound securities from May 10, 2024, to March 3, 2025. According to the allegations, during this period, the defendants made a series of materially false and misleading declarations concerning the company’s operations and future prospects.

The complaint outlines specific failures, including:
1. Misrepresentation of Financial Controls: Allegations that SoundHound’s internal controls had significant weaknesses, rendering its financial reporting unreliable and impairing its ability to accurately account for corporate acquisitions.
2. False Claims: Claims that the company exaggerated its progress in addressing these internal control weaknesses, ultimately inflating reported goodwill following the Amelia Acquisition.
3. Delayed Financial Reporting: Concerns that these inadequacies could lead to difficulties in timely filing essential financial reports with the United States Securities and Exchange Commission (SEC).

Investors who may have been impacted by these issues are encouraged to join this class action as they pursue legal remedies for their losses. Legal representation is available on a contingency fee basis, meaning no upfront costs are incurred unless a favorable recovery is achieved.

Next Steps for Investors

Should you believe that you qualify for this class action lawsuit, it is imperative to act swiftly. You have until May 27, 2025, to request that the court appoint you as the lead plaintiff. However, participating in the lawsuit does not require you to take on this role to regain potential losses. For those wishing to review a copy of the complaint or seeking further information, the law firm’s website and contact information provide essential resources.

Who is Bronstein, Gewirtz & Grossman?

Bronstein, Gewirtz & Grossman, LLC, is a law firm with a strong reputation for representing investors in class actions and derivative lawsuits related to securities fraud. The firm has a proven track record of recovering substantial amounts for aggrieved investors across the United States.

For more updates and information, affected investors can connect with the firm via LinkedIn, X, Facebook, or Instagram.

Conclusion

Investors in SoundHound AI, Inc. who have faced financial losses due to questionable representations from the company now have a chance to partake in a class action lawsuit. With experienced legal representation available, addressing and possibly recovering from these significant losses has never been more attainable. Don't miss the opportunity to take action. For further inquiries, contact Peretz Bronstein or Nathan Miller at Bronstein, Gewirtz & Grossman.