Class Action Lawsuit Filed Against SoundHound AI: An Overview for Investors Seeking Recovery
On April 25, 2025, Levi & Korsinsky, LLP announced significant news concerning investors of SoundHound AI, Inc. (NASDAQ: SOUN). A class action lawsuit has been initiated aimed at recovering losses for shareholders adversely impacted by what is being described as securities fraud. This lawsuit specifically targets actions and statements made by the company between May 10, 2024, and March 3, 2025. Investors who find their interests tied to SoundHound AI during this critical period might want to pay close attention to these developments.
The filing outlines serious allegations against SoundHound AI, indicating that the company concealed material weaknesses in its internal controls over financial reporting. This impairment allegedly hindered the firm's capacity to properly manage its corporate acquisitions. In addition, the complaint asserts that the company overstated how effectively it addressed and was able to resolve these internal control issues. Furthermore, it claims that the inflated valuation of goodwill stemming from the Amelia Acquisition requires correction, and executives will likely spend additional resources and time on the SYNQ3 and Amelia Acquisitions.
As a consequence of these internal vulnerabilities, there is heightened concern about SoundHound's ability to submit timely financial reports with the SEC. The ramifications of these issues have led to statements released by the company being deemed materially false and misleading throughout the specified timeframe.
For investors who have sustained losses in SoundHound AI within the designated timeframe, the window to act is approaching a critical deadline. They have until May 27, 2025, to move forward with the court procedure and seek to be appointed as lead plaintiff. It’s crucial to note that participation in any potential recovery does not depend on serving as lead plaintiff, making it accessible for all stakeholders.
Furthermore, participants in this class action stand to gain potential compensation without incurring any costs or fees upfront. It is essential for shareholders to understand that there is no financial obligation involved in joining this legal endeavor, aligning with the ethos of transparency and investor rights championed by Levi & Korsinsky.
With a proven track record spanning two decades, Levi & Korsinsky has established itself as a formidable advocate for shareholders. The firm has facilitated the recovery of hundreds of millions of dollars for investors in similar high-stakes situations. Their extensive expertise in complex securities litigation is backed by a dedicated team of over 70 professionals, consistently making their mark in national rankings related to securities litigation firms.
Investors interested in learning more or taking action against SoundHound AI can reach out directly to Levi & Korsinsky. Joseph E. Levi, the lead attorney handling this case, can be contacted via email or phone for inquiries.
For those looking for further details about the lawsuit or to submit their information, additional resources are available at Levi & Korsinsky’s official website.
As the case develops, those invested in SoundHound AI will want to stay informed and consider the potential implications of this significant class action lawsuit.
Class Action Details
The filing outlines serious allegations against SoundHound AI, indicating that the company concealed material weaknesses in its internal controls over financial reporting. This impairment allegedly hindered the firm's capacity to properly manage its corporate acquisitions. In addition, the complaint asserts that the company overstated how effectively it addressed and was able to resolve these internal control issues. Furthermore, it claims that the inflated valuation of goodwill stemming from the Amelia Acquisition requires correction, and executives will likely spend additional resources and time on the SYNQ3 and Amelia Acquisitions.
As a consequence of these internal vulnerabilities, there is heightened concern about SoundHound's ability to submit timely financial reports with the SEC. The ramifications of these issues have led to statements released by the company being deemed materially false and misleading throughout the specified timeframe.
Next Steps for Affected Investors
For investors who have sustained losses in SoundHound AI within the designated timeframe, the window to act is approaching a critical deadline. They have until May 27, 2025, to move forward with the court procedure and seek to be appointed as lead plaintiff. It’s crucial to note that participation in any potential recovery does not depend on serving as lead plaintiff, making it accessible for all stakeholders.
No Financial Burden
Furthermore, participants in this class action stand to gain potential compensation without incurring any costs or fees upfront. It is essential for shareholders to understand that there is no financial obligation involved in joining this legal endeavor, aligning with the ethos of transparency and investor rights championed by Levi & Korsinsky.
The Reputation of Levi & Korsinsky
With a proven track record spanning two decades, Levi & Korsinsky has established itself as a formidable advocate for shareholders. The firm has facilitated the recovery of hundreds of millions of dollars for investors in similar high-stakes situations. Their extensive expertise in complex securities litigation is backed by a dedicated team of over 70 professionals, consistently making their mark in national rankings related to securities litigation firms.
Contact Information
Investors interested in learning more or taking action against SoundHound AI can reach out directly to Levi & Korsinsky. Joseph E. Levi, the lead attorney handling this case, can be contacted via email or phone for inquiries.
- - Email: [email protected]
- - Phone: (212) 363-7500.
For those looking for further details about the lawsuit or to submit their information, additional resources are available at Levi & Korsinsky’s official website.
As the case develops, those invested in SoundHound AI will want to stay informed and consider the potential implications of this significant class action lawsuit.
Topics Financial Services & Investing）
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