SoundHound AI Investors Encouraged to Join Class Action Lawsuit
SoundHound AI Investor Alert: Class Action Lawsuit Notification
Levi & Korsinsky, LLP reaches out to investors in SoundHound AI, Inc. (NASDAQ: SOUN) regarding an important class action securities lawsuit. This notification is aimed at shareholders who may have suffered financial losses due to alleged securities fraud connected to the company's practices.
Understanding the Class Action Lawsuit
The lawsuit aims to address losses incurred by SoundHound AI, Inc. investors adversely affected by specific misleading statements made by the company's leadership. The time frame in question encompasses events that unfolded between May 10, 2024, and March 3, 2025.
What Does the Class Action Entail?
This legal action seeks to hold the company accountable for claims that its internal controls over financial reporting were inadequate. Investors are encouraged to consider their positions carefully and assess how these allegations might impact their investments.
Key Allegations Against SoundHound AI
Among the significant concerns, the lawsuit alleges that:
(i) The company had noticeable weaknesses in its internal control mechanisms, hindering its ability to accurately account for acquisitions. (ii) Claims were made that SoundHound AI had improved its remediation processes, which were found to be overstated. (iii) The reported goodwill from its Amelia Acquisition was inflated and needed rectification. (iv) Further complications arose concerning the time and resources needed to correctly account for the SYNQ3 and Amelia Acquisitions. (v) These issues increased the likelihood that critical financial reports would not be filed timely with regulatory authorities.
Next Steps for Affected Investors
For those who faced a financial loss related to SoundHound AI during the specified period, there is still time to join the lawsuit. Interested parties must act by May 27, 2025, to be considered for a lead plaintiff role. However, participation in any financial recovery does not necessitate this position.
No Financial Cost to Participants
Individuals who qualify as class members could receive compensation without any out-of-pocket expenses. The firm emphasizes that there are no hidden fees or obligations to join this legal effort.
Why Choose Levi & Korsinsky?
Levi & Korsinsky has earned a trusted reputation over the past two decades, successfully recovering substantial sums for shareholders harmed by corporate misconduct. With a dedicated team and a wealth of experience in complex securities litigation, the firm stands ready to support its clients effectively.
Contact Information
Those interested in learning more or seeking assistance can reach out directly to:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
Get more information at www.zlk.com
Frequently Asked Questions
What is the purpose of the class action lawsuit?
The lawsuit aims to recover financial losses for investors who suffered due to alleged fraudulent activities by SoundHound AI.
Who can participate in the class action?
Any investors who faced losses in SoundHound AI during the specified period are eligible to participate.
What are the key allegations against SoundHound AI?
The allegations center around weaknesses in financial reporting and misleading statements regarding the company’s acquisitions.
Is there a cost to participate in this legal action?
No, class members may receive compensation without any financial cost or obligation.
How can I contact Levi & Korsinsky for more information?
You can contact Joseph E. Levi or Ed Korsinsky through their office phone number or visit their website for further details.
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