#United States #New York #Class Action #Securities Fraud #SoundHound AI

Investors Alert: SoundHound AI Faces Class Action Lawsuit

Investors in SoundHound AI, Inc. (NASDAQ: SOUN) should be aware of an important legal development as Levi & Korsinsky, LLP has officially notified them regarding a pending class action lawsuit. This action aims to address and recover losses incurred by investors allegedly affected by securities fraud occurring from May 10, 2024, through March 3, 2025.

Class Action Lawsuit Details

The core of the lawsuit is rooted in claims that SoundHound made misleading statements about its financial condition. Particularly, it alleges that the company had significant weaknesses in its internal control systems which hindered its ability to accurately report corporate acquisitions.

Key allegations include:
1. SoundHound purportedly overstated its mitigation efforts concerning internal control weaknesses.
2. The company's reported goodwill following its Amelia Acquisition was allegedly inflated, indicating a need for correction.
3. There are concerns about the potential delays and additional costs in reporting due to these deficiencies, which might endanger timely filings with the SEC.
4. As a result, SoundHound’s public position at all relevant times was said to be materially false and misleading.

This situation raises concerns for investors, as it not only jeopardizes the company’s financial standing but also impacts investor trust and the broader market perception.

What Should Investors Do?

For those who have experienced losses during the aforementioned period, it’s crucial to act swiftly. The deadline to request appointment as lead plaintiff in this case is May 27, 2025. Being a lead plaintiff does not require investors to incur any costs or fees, thus posing minimal financial risk while offering a potential path for compensation from the lawsuit.

Contact for More Information
Investors wishing to learn more about their rights and the details of the lawsuit can contact Mr. Joseph E. Levi via email at email protected] or by phone at (212) 363-7500. A further link is available for those interested in submitting claims or seeking detailed insights regarding the lawsuit: [class action submission form.

Why Choose Levi & Korsinsky?

With over 20 years of experience, Levi & Korsinsky has established itself as a formidable player in the realm of securities litigation. They've successfully secured hundreds of millions in recovery for shareholders and have received recognition in ISS Securities Class Action Services' Top 50 Report for their competence and effectiveness in handling high-stakes cases. Their team of more than 70 legal professionals is dedicated to advocating for investor rights, making them a prime ally for those affected by alleged securities fraud.

As investors navigate the complexities of corporate disclosures and legal actions, it is imperative to stay informed and proactive. The outcomes of these lawsuits can significantly influence the financial well-being of those involved. Keeping abreast of developments and being ready to engage with legal counsel is advisable for all SoundHound investors during this turbulent time.