SoundHound AI Shareholders Urged to Act Before Lead Plaintiff Deadline

Important Legal Notice for SoundHound AI, Inc. Shareholders

Overview
The Gross Law Firm has issued a notice highlighting an important deadline for shareholders of SoundHound AI, Inc. (NASDAQ: SOUN) involved in a class action lawsuit. Shareholders are reminded that the deadline to apply for lead plaintiff status is approaching, with May 27, 2025, marked as the critical date. This notice is intended for any shareholder who purchased shares between May 10, 2024, and March 3, 2025, urging them to participate in the legal proceedings if they believe they have been adversely affected by the company's actions.

Allegations Against SoundHound AI
The class action suit alleges several significant issues concerning the company's internal practices and financial reporting. Key allegations include:
1. Material Weaknesses: The complaint claims that SoundHound had substantial weaknesses in its internal controls over financial reporting, which undermined the company's capacity to accurately account for its acquisitions.
2. Misleading Statements: It is argued that SoundHound made materially false statements regarding the remediation of these weaknesses, particularly overstating the status and extent of their corrections.
3. Inflated Goodwill: In the wake of the Amelia Acquisition, the company’s reported goodwill was allegedly inflated, necessitating a future correction that could impact financial integrity.
4. Reporting Delays: The report further indicates that SoundHound's ability to submit necessary financial documents to the SEC in a timely manner was compromised, increasing regulatory risk.

These allegations paint a concerning picture of corporate governance at SoundHound, raising questions about transparency and accountability in its financial dealings. Consequently, shareholders who have experienced losses due to these alleged misrepresentations are urged to consider the benefits of joining the class action.

Next Steps for Interested Shareholders
Shareholders looking to engage in this legal action must act promptly. Registration for participation in the class action can be completed via a dedicated webpage, where individuals can submit their details and express their interest in being considered for lead plaintiff status. Once registered, shareholders will be enrolled in a monitoring program that provides ongoing updates about the ongoing legal proceedings.

Why Join the Class Action?

Being part of this class action could be pivotal for affected shareholders, as it aims to seek recoveries on behalf of those who have suffered losses due to the alleged deceptive practices of SoundHound AI. The Gross Law Firm emphasizes that joining the lawsuit does not incur any costs or obligations and aims to protect the rights of investors.

Conclusion
The Gross Law Firm is committed to ensuring that investors are aware of their rights and the options available to them following losses tied to misleading company practices. Shareholders are encouraged to act quickly to take advantage of the opportunity to potentially recover their investments lost due to SoundHound’s alleged misconduct. Failure to register before the May 27, 2025 deadline could mean missing the chance to be part of the class action.

For further details on how to register and participate, shareholders can visit the Gross Law Firm’s website or contact them directly.

Contact Information