PR Newswire
Shareholders with losses of $50,000 or more are encouraged to contact the firm.
LOS ANGELES
, April 28, 2025 /PRNewswire/ — The Law Offices of Frank R. Cruz announces that investors with losses related to SoundHound AI, Inc. (“SoundHound” or the “Company”) (NASDAQ: SOUN) have opportunity to lead the securities fraud class action lawsuit.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN SOUNDHOUND AI, INC. (SOUN), CLICK HERE BEFORE MAY 27, 2025 (THE LEAD PLAINTIFF DEADLINE) TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
What Is The Lawsuit About?
The complaint filed alleges that, between May 10, 2024 and March 3, 2025, Defendants failed to disclose to investors that: (1) the material weaknesses in SoundHound’s internal controls over financial reporting impaired the Company’s ability to effectively account for corporate acquisitions; (2) the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting; (3) as a result of the foregoing material weaknesses, SoundHound’s reported goodwill following the Amelia Acquisition was inflated and would need to be corrected; (4) SoundHound would likely require extra time and expense to effectively account for the SYNQ3 and Amelia Acquisitions; (5) the foregoing increased the risk that the Company would be unable to timely file certain financial reports with the SEC; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us.
The Law Offices of Frank R. Cruz,
Email us at: [email protected]
Call us at: 310-914-5007
Visit our website at: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
