Class Action Lawsuit Filed for Investors of SoundHound AI, Inc. Seeking Recovery
In a significant legal development, Levi & Korsinsky, LLP has announced a class action lawsuit targeting SoundHound AI, Inc. (NASDAQ: SOUN). This legal move is aimed at investors who suffered financial losses due to alleged securities fraud between May 10, 2024, and March 3, 2025. According to the details shared by the firm, the lawsuit alleges that SoundHound AI, Inc. misled its investors through a series of false statements regarding its internal financial controls, particularly after the acquisition of companies like Amelia and SYNQ3.
The complaint points to several critical issues. First, it claims that the company failed to properly account for corporate acquisitions due to significant weaknesses in its internal controls over financial reporting. This failure allegedly resulted in an inflated reported goodwill for SoundHound AI, following its acquisitions. As a direct consequence, investors may have faced potential financial losses due to misrepresentation about the company's financial health.
Moreover, the complaint suggests that SoundHound AI misrepresented its capability to rectify these internal control problems and also failed to adequately disclose the time and expenses required for effective accounting related to its acquisitions. This lack of transparency created a higher risk of delayed financial reporting to the Securities and Exchange Commission (SEC), which could further affect the company's stock and investor trust.
If you are among the investors impacted during this timeframe, you have until May 27, 2025, to request that the court appoint you as a lead plaintiff. It is important to note that participating in the lawsuit does not obligate you to serve as a lead plaintiff and carries no out-of-pocket costs.
Levi & Korsinsky has a strong track record of representing investors in complex securities litigation successfully. Over the last two decades, the firm has recovered hundreds of millions of dollars for shareholders and continually ranks among the nation's top securities litigation firms. With a dedicated team of over 70 professionals, they provide significant expertise in representing those harmed by mismanagement and fraud.
If you believe you are an affected investor, immediate action is encouraged. Investors can gather more information or enroll in the class action lawsuit through the firm's website or by reaching out directly via email or phone. The firm assures that there are no costs or obligations to participate in the action.
As the legal proceedings unfold, it remains vital for investors to stay informed. The outcome could potentially reshape investor confidence in not only SoundHound AI, Inc. but also in the broader tech and AI investment landscape. Legal experts suggest that continued scrutiny of corporate governance and transparency within tech companies is essential to safeguarding shareholder interests in the future.
For additional details, affected investors are urged to contact Levi & Korsinsky. The firm is committed to representing those whose investment choices were affected by corporate misrepresentation and supports stakeholders throughout this challenging time. As recovery efforts progress, interested parties should ensure they remain aligned with developments and prepared to act to protect their financial interests.
The complaint points to several critical issues. First, it claims that the company failed to properly account for corporate acquisitions due to significant weaknesses in its internal controls over financial reporting. This failure allegedly resulted in an inflated reported goodwill for SoundHound AI, following its acquisitions. As a direct consequence, investors may have faced potential financial losses due to misrepresentation about the company's financial health.
Moreover, the complaint suggests that SoundHound AI misrepresented its capability to rectify these internal control problems and also failed to adequately disclose the time and expenses required for effective accounting related to its acquisitions. This lack of transparency created a higher risk of delayed financial reporting to the Securities and Exchange Commission (SEC), which could further affect the company's stock and investor trust.
If you are among the investors impacted during this timeframe, you have until May 27, 2025, to request that the court appoint you as a lead plaintiff. It is important to note that participating in the lawsuit does not obligate you to serve as a lead plaintiff and carries no out-of-pocket costs.
Levi & Korsinsky has a strong track record of representing investors in complex securities litigation successfully. Over the last two decades, the firm has recovered hundreds of millions of dollars for shareholders and continually ranks among the nation's top securities litigation firms. With a dedicated team of over 70 professionals, they provide significant expertise in representing those harmed by mismanagement and fraud.
If you believe you are an affected investor, immediate action is encouraged. Investors can gather more information or enroll in the class action lawsuit through the firm's website or by reaching out directly via email or phone. The firm assures that there are no costs or obligations to participate in the action.
As the legal proceedings unfold, it remains vital for investors to stay informed. The outcome could potentially reshape investor confidence in not only SoundHound AI, Inc. but also in the broader tech and AI investment landscape. Legal experts suggest that continued scrutiny of corporate governance and transparency within tech companies is essential to safeguarding shareholder interests in the future.
For additional details, affected investors are urged to contact Levi & Korsinsky. The firm is committed to representing those whose investment choices were affected by corporate misrepresentation and supports stakeholders throughout this challenging time. As recovery efforts progress, interested parties should ensure they remain aligned with developments and prepared to act to protect their financial interests.
Topics Financial Services & Investing）
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