PR Newswire
Lawsuit Reveals Misleading Statements Regarding SoundHound AI’s Business Operations
NEW YORK
, April 7, 2025 /PRNewswire/ — Wolf Haldenstein Adler Freeman & Herz LLP, a distinguished law firm with over 125 years of history, informs investors that a class action lawsuit has been filed against SoundHound AI, Inc. (“SoundHound” or the “Company”)(NASDAQ: SOUN) on behalf of a class consisting of all investors that purchased or otherwise acquired SoundHound securities between May 10, 2024 and March 3, 2025, both dates inclusive (the “Class Period”).
Deadline to sign up:
If you are an investor who bought or otherwise acquired SoundHound securities during the Class Period, you have until May 27, 2025, to ask the Court to appoint you as Lead Plaintiff for the class.
PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION
What happened:
The filed complaint alleges that throughout the Class Period, the defendants made materially false, misleading and potentially damaging statements regarding the Business Operations of SoundHound AI. These include unvalidated claims about the Company’s status, capabilities, and prospects, which have had considerable adverse effects on investors who relied on the information shared.
On March 4, 2025, SoundHound disclosed in a filing with the United States Securities and Exchange Commission (“SEC”) that it would be unable to timely file its Annual Report for 2024 (the “2024 10-K”) SoundHound stated that “[d]ue to the complexity of accounting for [the SYNQ3 and Amelia Acquisitions], the Company require[d] additional time to prepare financial statements and accompanying notes” and that it “ha[d] identified material weaknesses in its internal control over financial reporting.”
Subsequently, on March 11, 2025, SoundHound filed its 2024 10-K. In the 2024 10-K, SoundHound stated, in relevant part, that, as of December 31, 2024, “[t]he Company did not design and maintain effective controls related to the identification of and accounting for certain non-routine, unusual or complex transactions, including the accounting for complex financing transactions and acquisitions”— disclosing for the first time that the Company’s lack of effective controls was impairing its ability to account for corporate acquisitions.
Why
Wolf Haldenstein Adler Freeman & Herz LLP
?
:
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
-
Email:
[email protected] - Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
View original content to download multimedia:https://www.prnewswire.com/news-releases/soun-shareholders-should-contact-wolf-haldenstein-for-information-about-participating-in-the-soundhound-ai-inc-class-action-302422375.html
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
