#USA #New York #Class Action #Securities Fraud #SoundHound AI

Class Action Lawsuit Against SoundHound AI, Inc.

In recent news, a significant class action lawsuit has emerged concerning SoundHound AI, Inc., a prominent player in the tech industry. The law firm Levi & Korsinsky, LLP has alerted investors about the possibility of recovering losses incurred due to alleged securities fraud. The deadline to join the class action is set for May 27, 2025, and interested parties are encouraged to reach out for more information.

Background of the Lawsuit

The class action lawsuit aims to represent investors who faced financial losses during the period from May 10, 2024, to March 3, 2025. According to the details released, the lawsuit alleges that SoundHound AI, Inc. did not adequately disclose critical information that negatively impacted shareholders. In essence, it is claimed that the company's internal controls over financial reporting contained material weaknesses that hindered their ability to accurately account for corporate acquisitions, particularly the Amelia Acquisition.

The lawsuit claims that SoundHound overinflated the reported goodwill following this acquisition and misrepresented the remediation of internal control weaknesses. As a consequence, these actions led to a risk that the company would struggle to meet deadlines for filing essential financial reports with the SEC, leading to false and misleading public statements.

Implications for Investors

Investors who may have suffered losses during the specified time frame have a chance to come forward and request to be appointed as lead plaintiffs in the case. It's crucial for affected shareholders to understand that participation in the class action does not necessitate serving as a lead plaintiff to potentially receive compensation.

Levi & Korsinsky emphasizes that if individuals qualify as class members, they stand a chance to gain compensation without any upfront costs, making it an appealing option for those impacted.

Why Levi & Korsinsky?

With over two decades of experience, Levi & Korsinsky has successfully secured hundreds of millions of dollars for shareholders in similar class actions. Their reputation is built on a track record of winning complex securities litigation cases. The firm has more than 70 professionals dedicated to serving their clients, ensuring that investors have the support they need during such challenging times. Notably, they have consistently ranked among the top securities litigation firms in the U.S. according to ISS Securities Class Action Services.

Next Steps for Investors

For investors eager to learn more, Levi & Korsinsky has provided guidance on contacting the firm. Interested parties can visit their dedicated webpage (link below) or directly reach out via email or phone. The deadline for filing to be part of the lawsuit is looming, and the firm is ready to assist those who wish to assert their rights as shareholders.

For further information and submission of claims, visit: SoundHound AI Lawsuit Submission

In conclusion, the unfolding of this lawsuit presents a critical juncture for investors involved with SoundHound AI, Inc. The firm Levi & Korsinsky stands ready to aid investors in navigating these turbulent waters and potentially reclaiming their losses.