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

Levi & Korsinsky Announces Class Action Lawsuit for SoundHound AI Shareholders

Levi & Korsinsky, LLP, a prominent law firm specializing in securities litigation, has officially notified investors in SoundHound AI, Inc. (NASDAQ: SOUN) about a class action lawsuit. This legal action is designed to represent shareholders who may have suffered losses due to alleged securities fraud that occurred between May 10, 2024, and March 3, 2025.

Background of the Case

The lawsuit was filed on behalf of investors who believe they were negatively impacted by the company's financial mismanagement. Key allegations in the complaint suggest that the company knowingly made misleading statements regarding its internal controls over financial reporting. These claims include:

1. SoundHound AI failed to accurately disclose material weaknesses in its financial reporting capabilities, which hampered its ability to manage corporate acquisitions effectively.
2. The company allegedly overstated its remediation efforts regarding these internal control weaknesses.
3. As a result of these issues, the reported goodwill following its acquisition of Amelia was inflated beyond its actual value, leading to erroneous financial reporting.
4. Furthermore, SoundHound AI seemingly underestimated the time and financial resources required to address its reporting failures related to the SYNQ3 and Amelia acquisitions.
5. Consequently, these flaws created a heightened risk that the company would not be able to file essential financial reports with the SEC on schedule.

Due to these reasons, the accusations assert that during the relevant period, all public statements made by SoundHound AI were materially misleading and factually inaccurate.

Important Dates and Instructions

For those affected by the alleged misconduct, the deadline to request to be appointed as lead plaintiff in this case is May 27, 2025. Importantly, participation in the lawsuit does not require individuals to serve as lead plaintiffs in order to be eligible for compensation.

No Financial Risk to Investors

Potential class members are reminded that they can seek compensation for their losses without incurring any out-of-pocket expenses. The legal firm operates on a contingency basis, meaning there are no costs or obligations for those who join the class action lawsuit.

Levi & Korsinsky’s Credibility

Levi & Korsinsky has built a notable reputation over the past two decades, having secured hundreds of millions of dollars for aggrieved stakeholders and successfully handling high-stakes litigation. The firm boasts a dedicated team of over 70 employees focused on representing investors in complex securities matters. For seven consecutive years, it has ranked in the top 50 of ISS Securities Class Action Services, signifying its preeminent status in the field.

How to Get Involved

Investors seeking further information or assistance regarding the SoundHound AI class action lawsuit are encouraged to reach out directly. They may contact Joseph E. Levi, Esq., via email at [email protected], or by phone at (212) 363-7500. A detailed information and submission form can also be accessed through their official site, ensuring transparency and assistance for affected parties.

Conclusion

This class action lawsuit represents a critical opportunity for shareholders of SoundHound AI, Inc. to seek justice and compensate for their financial damages. The situation underscores the importance of transparency and trust in financial reporting, leading investors to think critically about the companies in which they place their investments.