#United States #New York #Class Action #Gross Law Firm #SoundHound AI

Investors Encouraged to Join Class Action Against SoundHound AI, Inc.

In a significant development for shareholders of SoundHound AI, Inc. (NASDAQ: SOUN), The Gross Law Firm has issued an alert regarding a pending class action lawsuit aimed at recovering losses sustained by investors. This invitation is extended to all shareholders who purchased stock in SoundHound during a specific class period extending from May 10, 2024, to March 3, 2025. Ark1530301870000520

The firm highlights the necessity for shareholders to act promptly in order to secure their right to potentially be appointed as lead plaintiffs in the case. It is crucial to understand that becoming a lead plaintiff is not a prerequisite for participating in the recovery of losses.

Allegations of Misrepresentation

The primary allegations in the lawsuit accuse the company of issuing materially false and misleading statements, particularly concerning its financial reporting and internal controls over corporate acquisitions. Key points of contention include:
1. SoundHound's claims regarding the remediation of internal control weaknesses were overstated. This fundamentally impacted their ability to accurately account for corporate acquisitions.
2. Following the acquisition of Amelia, it was alleged that the reported goodwill on SoundHound's financial statements was inflated, necessitating future corrections.
3. The additional complexities involved with the SYNQ3 and Amelia acquisitions further compounded reporting delays, increasing the risk that SoundHound would fail to timely file necessary reports with the SEC.

These accusations highlight a broader failure of corporate governance and accountability that impacted investors financially. By failing to communicate the complete status of their financial health and control mechanisms, the company may have misled shareholders at various critical junctures.

Important Deadlines

For shareholders interested in joining this class action, there is an urgent need to register before the deadline of May 27, 2025. This deadline pertains to those seeking lead plaintiff status, although all affected shareholders are encouraged to register their information via a specified form on the law firm's website to facilitate ongoing communications and updates as the case progresses.

Ongoing Support for Shareholders

As a participant in this class action, shareholders will benefit from portfolio monitoring services, which will keep them updated on the status of the lawsuit. Importantly, participation involves no financial obligation, allowing victims of the alleged fraud to pursue justice without upfront costs.

The Gross Law Firm’s Commitment

The Gross Law Firm is renowned for its commitment to protecting the rights of investors and holding companies accountable for unethical practices. Their mission centers around ensuring compliance with robust business ethics while advocating for those negatively impacted by corporate deceit. This firm has worked on various class action suits, demonstrating a track record in successfully addressing issues of investor rights and corporate accountability.

For those who have faced financial damage due to SoundHound's alleged misrepresentations, now stands an opportunity to seek recompense through this class action. Interested shareholders should not delay in taking action by visiting: The Gross Law Firm.

In conclusion, shareholders of SoundHound AI, Inc. have a vital opportunity to take part in a collective legal action aiming to address grievances against the company, protecting their investment and working towards financial recovery as they navigate this challenging situation.