ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of SoundHound AI
Investors who have suffered losses in SoundHound AI are encouraged to contact Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson directly. He is available to discuss their options and potential legal recourse. It is important for affected investors to seek professional advice in such situations. Mr. Wilson specializes in securities litigation and can provide valuable guidance on the matter. Victims of financial losses should not hesitate to reach out for assistance.
Investor Losses in SoundHound AI - Contact Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson is encouraging investors who suffered losses in SoundHound AI to contact him directly to discuss their options. If you purchased or acquired securities in SoundHound AI between May 10, 2024 and March 3, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
NEW YORK, April 02, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against SoundHound AI, Inc. (“SoundHound” or the “Company”) (NASDAQ: SOUN) and reminds investors of the May 27, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose certain information.
Allegations Against SoundHound AI
The complaint alleges that:
- The material weaknesses in SoundHound's internal controls over financial reporting impaired the Company's ability to effectively account for corporate acquisitions.
- 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.
- SoundHound's reported goodwill following the Amelia Acquisition was inflated and would need correction.
- SoundHound would likely require extra time and expense to effectively account for the SYNQ3 and Amelia Acquisitions.
- The Company would be unable to timely file certain financial reports with the United States Securities and Exchange Commission ("SEC").
- The Company's public statements were materially false and misleading at all relevant times.
On March 4, 2025, SoundHound disclosed that it would be unable to timely file its Annual Report for 2024 (the "2024 10-K"), resulting in a drop in the stock price.
Lead Plaintiff Information
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice.
Faruqi & Faruqi, LLP also encourages anyone with information regarding SoundHound’s conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
For more information about the SoundHound AI class action, visit the Faruqi & Faruqi website or contact partner Josh Wilson directly.
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