#United States #New York #Levi & Korsinsky #SoundHound AI #SOUN

Key Update for SoundHound AI, Inc. Investors

SoundHound AI, Inc. investors must act promptly as Levi & Korsinsky, LLP has alerted them about a class action lawsuit on the alleged securities fraud affecting the company. This lawsuit could have significant implications for shareholders and requires immediate attention for those who may have suffered losses during the specified period.

Background of the Lawsuit

The class action lawsuit is primarily focused on allegations of misleading statements made by SoundHound AI from May 10, 2024, to March 3, 2025. The allegations suggest that company executives concealed critical weaknesses in the firm’s financial reporting practices. They purportedly misrepresented SoundHound's abilities to manage corporate acquisitions and effectively address internal control issues.

As a result of these alleged misrepresentations, investors might have received distorted information about the company’s financial health, leading to unwarranted financial losses. The key points of the lawsuit include:

1. Material Weaknesses in Financial Reporting - The company allegedly failed to maintain effective controls over financial reporting, which undermined its ability to account for acquisitions adequately.
2. Inflated Goodwill Post-Acquisition - Following the Amelia Acquisition, it is claimed that SoundHound's reported goodwill was overstated and required correction, indicating serious issues in financial reporting.
3. Delayed Financial Reports - Ongoing problems could result in SoundHound being unable to file financial reports with the SEC in a timely manner, raising alarms among stakeholders.

What Investors Need to Do

If investors suffered losses during the specified timeframe, they should reach out to the law firm before the cut-off date of May 27, 2025, to discuss their eligibility for compensation under the class action suit. Levi & Korsinsky assures participants that there will be no costs or obligations associated with joining the lawsuit.

Contact Information

Interested shareholders are encouraged to contact:

• - Joseph E. Levi, Esq. via email at [email protected]
• - By phone at (212) 363-7500.

Additionally, investors can obtain more information through the firm’s dedicated website for filings related to this lawsuit.

Why Choose Levi & Korsinsky?

With over 20 years of experience in securities litigation, Levi & Korsinsky has built a solid reputation for representing investors and achieving considerable settlements. They have consistently ranked among the top securities litigation firms in the U.S., specializing in complex class action cases that protect shareholder interests.

The firm’s extensive experience and dedicated team offer a strong platform for navigating the intricacies of securities litigation, helping clients secure recoveries in high-stakes scenarios.

Investors should act swiftly to understand their rights and explore potential recourse. Given the complexities and potential consequences of the ongoing lawsuit, taking these steps could be crucial for affected shareholders. This is a pivotal moment for investors in SoundHound AI, and timely action is essential for pursuing compensation for any losses incurred.