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Investors Should Connect with Levi & Korsinsky Regarding SoundHound AI

In recent developments concerning SoundHound AI, Inc., investors are being urged to engage with legal representatives from Levi & Korsinsky, LLP by May 27, 2025, in light of a class action securities lawsuit. This notification highlights the pressing need for investors who may have been adversely affected due to alleged securities fraud that occurred over a defined period from May 10, 2024, to March 3, 2025.

The class action aims to address significant material weaknesses identified in SoundHound's internal control systems over financial reporting, which purportedly undermined the company’s ability to accurately account for its corporate acquisitions. This raises serious concerns regarding the integrity of the company’s financial statements and the associated risks that may have misled investors.

Key Allegations

The lawsuit outlines specific accusations against the company, asserting that SoundHound had made misleading statements. Notably, it claims that they overstated the remediation of weaknesses in their internal controls, suggesting financial stability that may not have been present. The issues cited include:

• - Impaired Financial Reporting: Investors were informed that SoundHound's acquisitions were inaccurately reported due to flaws in internal controls, adversely affecting the company's financial credibility.
• - Inflated Goodwill: Misrepresentation of the company’s financials following acquisitions, particularly concerning the Amelia acquisition.
• - Delayed Reporting: There are concerns that the company might face challenges in timely filing financial reports with the SEC.

These factors combined indicate that SoundHound’s public communications were grossly misleading during a crucial time, impacting investor confidence and stock performance.

Participation Details

For those who suffered financial losses during the specified timeline, it is essential to note that the window for appointing a lead plaintiff to this case closes on May 27, 2025. Importantly, being a lead plaintiff is not a prerequisite for sharing in any potential financial recovery the lawsuit may yield. Investors can contact Levi & Korsinsky directly, either through telephone or email, for inquiries on joining the class and understanding their rights.

The firm assures participants that there are no out-of-pocket costs associated with being part of this class action. Classes of investors do not typically incur direct fees, making this an accessible opportunity for those looking to seek justice and compensation for their losses.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has a proven track record of successfully representing investors in high-stakes securities litigation. Over the last two decades, the firm has recovered substantial amounts for shareholders and has consistently ranked among the top securities litigation firms in the United States, according to ISS Securities Class Action Services.

This background positions Levi & Korsinsky as a robust ally for SoundHound investors seeking recourse following the alleged transgressions.

Contact Information

For any inquiries, reach Levi & Korsinsky via:

• - Email: [email protected]
• - Phone: (212) 363-7500
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

The time is of the essence for SoundHound investors to act promptly and safeguard their rights in this evolving legal landscape.