SAN DIEGO, May 05, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of SoundHound AI, Inc. (NASDAQ: SOUN) securities between May 10, 2024 and March 3, 2025, both dates inclusive (the “Class Period”), have until Tuesday, May 27, 2025 to seek appointment as lead plaintiff of the SoundHound class action lawsuit. Captioned Liles v. SoundHound AI, Inc., No. 25-cv-02915 (N.D. Cal.), the SoundHound class action lawsuit charges SoundHound as well as certain of SoundHo ...

SoundHound AI (SOUN) is scheduled to report its first-quarter 2025 results on May 8, after the closing bell.In the last reported quarter, SoundHound reported a loss of 69 cents per share, significantly wider than the 6-cent loss recorded in the same period a year earlier and notably below the Zacks Consensus Estimate by a wide margin of 527.3%. However, revenues jumped 101.5% year over year to $34.5 million, surpassing the consensus estimate by 3.1%. This revenue surge was supported by key customer addition ...

Core Insights - SoundHound AI is set to release a significant financial update that is highly anticipated by investors [1] Company Summary - The stock prices referenced were from the afternoon of May 1, 2025, indicating a specific timeframe for the financial update [1] - The video discussing this update was published on May 3, 2025, suggesting that the information is timely and relevant for current investors [1]

Core Viewpoint - SoundHound AI is experiencing a significant increase in growth expectations, with analysts projecting nearly double the revenue growth compared to last year, which was initially estimated at 30% [1][4]. Company Summary - SoundHound AI's revenue for the previous year was $85 million, and it is positioned to benefit from the expanding voice AI market, which is expected to exceed $40 billion by 2032 [2]. - The company's shares are currently trading at 36.5 times trailing sales, but analysts predict a sales growth of approximately 96% this year, with a more modest growth of nearly 20% expected next year [4][6]. - Over the next five to ten years, SoundHound AI has the potential for double-digit sales growth, with some periods possibly reaching triple-digit growth [6]. Industry Summary - The voice AI market is anticipated to grow at around 30% annually, which could provide a favorable environment for SoundHound AI's growth trajectory [4]. - The current valuation of SoundHound AI, when considering future growth rates, appears more reasonable, trading at 21.9 times forward sales based on expected growth over the next 12 months [6].

Core Viewpoint - A class action securities lawsuit has been filed against SoundHound AI, Inc. for alleged securities fraud affecting investors between May 10, 2024, and March 3, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that SoundHound AI, Inc. made false statements regarding its internal controls over financial reporting, which impaired its ability to account for corporate acquisitions [2]. - It is alleged that the company overstated its remediation efforts concerning material weaknesses in its internal controls [2]. - The reported goodwill following the Amelia Acquisition is claimed to be inflated and in need of correction due to these material weaknesses [2]. - The lawsuit indicates that SoundHound AI, Inc. may require additional time and resources to account for the SYNQ3 and Amelia Acquisitions [2]. - There is an increased risk that the company may fail to file certain financial reports with the SEC in a timely manner [2]. - The public statements made by the company are asserted to be materially false and misleading throughout the relevant period [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until May 27, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff to share in any potential recovery [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Law Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

NEW YORK, May 2, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in SoundHound AI, Inc. ("SoundHound AI, Inc." or the "Company") (NASDAQ: SOUN) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of SoundHound AI, Inc. investors who were adversely affected by alleged securities fraud between May 10, 2024 and March 3, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/soundhound-ai ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against SoundHound AI, Inc. due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by May 27, 2025 [2][4]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses exceeding $100,000 in SoundHound AI between May 10, 2024, and March 3, 2025, to discuss their legal options [1]. - The complaint alleges that SoundHound and its executives made false and misleading statements regarding the company's internal controls and financial reporting, particularly related to corporate acquisitions [4]. - SoundHound disclosed on March 4, 2025, that it would be unable to timely file its Annual Report for 2024 due to complexities in accounting for acquisitions, leading to a 5.81% drop in stock price [5]. Group 2: Company Background and Context - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding SoundHound's conduct [7].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of SoundHound AI, Inc. regarding a class action lawsuit due to alleged misleading statements and material weaknesses in financial reporting [1][3]. Group 1: Allegations - The complaint alleges that during the class period from May 10, 2024, to March 3, 2025, SoundHound AI made materially false and misleading statements [3]. - Specific allegations include: - Material weaknesses in internal controls over financial reporting that impaired the company's ability to account for corporate acquisitions [3]. - Overstatement of the remediation of these weaknesses, leading to inflated reported goodwill following the Amelia Acquisition [3]. - Increased risk of delays in filing financial reports with the SEC due to these issues [3]. Group 2: Class Action Details - The deadline for shareholders to register for the class action is May 27, 2025 [4]. - Shareholders who register will be enrolled in a portfolio monitoring software for updates on the case [4]. - There is no cost or obligation for shareholders to participate in the case [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

NEW YORK, May 1, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of SoundHound AI, Inc. (NASDAQ: SOUN).Shareholders who purchased shares of SOUN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/soundhound-ai-inc-loss-submission-form/?id=146166&from=4CLASS PERIOD: May 10, 2024 to M ...

Nvidia (NVDA 0.12%) has added an eye-popping $2.3 trillion to its market capitalization since the beginning of 2023, thanks to soaring demand for its data center chips that are the best in the industry for powering and training artificial intelligence (AI).Nvidia has put some of its incredible wealth to work by investing in a small portfolio of other AI stocks. SoundHound AI (SOUN -2.82%) was one of them, but the chip giant sold its entire stake during 2024's fourth quarter, according to its latest quarterl ...