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SoundHound AI, Inc. Investors Encouraged to Unite in Class Action

Recent news has shed light on a significant opportunity for shareholders of SoundHound AI, Inc. (NASDAQ: SOUN) who have experienced financial losses. A class action lawsuit, led by the law firm Levi & Korsinsky, LLP, aims to provide a platform for these investors to recover their lost funds.

Overview of the Class Action Lawsuit

The ongoing lawsuit is focused on the alleged securities fraud that occurred between May 10, 2024, and March 3, 2025. During this period, numerous investors claim that the company made misleading statements and concealed substantial weaknesses within its internal financial controls, leading to inflated financial reports and misrepresentations regarding acquisitions.

Allegations Against SoundHound AI, Inc.

The filed complaints detail claims that SoundHound’s management made irresponsible statements about their financial integrity and the company's ability to report accurately on acquisitions. Specifically, the allegations highlight:

1. Material Weaknesses: It is claimed that the company had ongoing issues with its internal controls over financial reporting that greatly impaired its ability to manage corporate acquisitions.

2. Inflated Goodwill Statements: Following the Amelia Acquisition, SoundHound AI purportedly overstated the perceived value, which later required adjustment—resulting in further complications as they accounted for the SYNQ3 and Amelia acquisitions.

3. Regulatory Filing Risks: Due to these material weaknesses, the concern arose that the company might struggle to submit timely financial reports to the SEC, which could further damage investor confidence.

Given these allegations, it’s critical for affected shareholders to consider joining the class action. The deadline for potential lead plaintiffs to request their appointment is May 27, 2025, though participation doesn’t require this role for investors to secure any financial recovery.

Why Join the Class Action?

Participating in this class action not only allows investors to contribute to a unified legal front but also doesn’t incur any upfront costs. As a member of the class, shared expenses are typically covered, ensuring that those who have faced financial setbacks do not bear additional burdens.

Levi & Korsinsky’s track record includes securing substantial settlements for investors in similar litigations over the past two decades. Their dedicated team of over 70 professionals specializes in complex securities litigation, making them well-suited for a case of this magnitude.

Contact Information

Investors in SoundHound AI, Inc. who sustained losses during the relevant period are urged to reach out for additional details. They can contact the firm directly through the following channels:

• - Email: [email protected]
• - Phone: (212) 363-7500

To know more about the lawsuit, individuals can also refer to the official Levi & Korsinsky website.

Conclusion

As the affected shareholders of SoundHound AI, Inc. navigate the complexities surrounding their financial investments, joining this class action lawsuit could be a vital step toward reclaiming losses sustained amid the turbulence. With legal representation from a trusted firm, investors stand a better chance of pursuing justice and recovering what is rightfully theirs. Don’t hesitate to reach out before the upcoming deadline to ensure you are part of this important initiative.