#USA #Robbins Geller #San Diego #Class Action #SoundHound AI

A Call to Action: SoundHound AI Investors

Investors holding shares of SoundHound AI, Inc. (NASDAQ: SOUN) are being urged to consider playing a pivotal role in an upcoming class action lawsuit. Robbins Geller Rudman & Dowd LLP announced that those who purchased or acquired securities of SoundHound AI between May 10, 2024, and March 3, 2025, are eligible to become lead plaintiffs. The specific timeline to apply for this position concludes on May 27, 2025.

Background of the Class Action

Filed under the title Liles v. SoundHound AI, Inc., case number 25-cv-02915 in the Northern District of California, the lawsuit outlines serious allegations against SoundHound. The suit accuses the company and several of its top executives of violating the Securities Exchange Act of 1934. Investors are particularly concerned about significant financial discrepancies linked to the company’s handling of its acquisitions and internal reporting controls.

The accusations include failing to disclose material weaknesses within SoundHound's internal controls related to financial reporting, which hindered the firm’s ability to reliably account for important acquisitions. The complaint asserts that these undisclosed issues led to inflated reported goodwill from the acquisition of Amelia Holdings, Inc., necessitating subsequent corrections. It is claimed that these inaccuracies contributed to the firm’s inability to file timely financial reports with the U.S. Securities and Exchange Commission.

The Implications for Investors

On March 4, 2025, SoundHound publicly declared a delay in filing its annual report for 2024, citing complexities arising from the accounting of its acquisitions of SYNQ3 and Amelia. This announcement caused the firm’s stock price to drop nearly 6%, raising further alarm among investors. The ripple effects of such disclosures, especially in a high-stakes environment surrounded by financial oversight, could significantly impact shareholders' returns.

This class action aims to consolidate efforts to ensure that affected stakeholders are represented and that any financial recovery is duly sought. The Private Securities Litigation Reform Act of 1995 stipulates that any investor who bought SoundHound securities during the designated period can petition for lead plaintiff status. It's important to note that being a lead plaintiff not only carries the most significant financial interest but also involves guiding the litigation on behalf of the entire class.

How to Get Involved

Investors interested in stepping forward as lead plaintiffs can submit their information on Robbins Geller’s website. This opens a pathway to potentially recover losses incurred during the tumultuous period surrounding SoundHound’s financial dealings. Interested parties can also reach out directly to attorneys J.C. Sanchez or Jennifer N. Caringal at Robbins Geller for more details.

About Robbins Geller Rudman & Dowd LLP

Respected for its achievements in the field of securities litigation, Robbins Geller Rudman & Dowd LLP stands as one of the premier law firms specializing in representing investors facing losses from securities fraud. With a proven track record of securing substantial monetary relief for its clients—over $2.5 billion in 2024 alone—Robbins Geller is equipped with the resources and expertise necessary to navigate the complexities of such legal battles. Investors can find further information regarding this issue on their website, ensuring that they remain informed about their rights and potential courses of action.

In conclusion, affected investors of SoundHound AI are encouraged to consider their eligibility to engage in this class action suit. Not only does this represent a chance to recover financial losses, but it also signifies a collective effort to hold companies accountable for transparency and integrity in their financial practices.