SoundHound AI(SOUN) Prnewswire·2025-04-08 09:45Core Viewpoint - A class action securities lawsuit has been filed against SoundHound AI, Inc. alleging securities fraud that affected investors between May 10, 2024, and March 3, 2025 [1][2]. Group 1: Lawsuit Details - The complaint claims that SoundHound AI, Inc. made false statements regarding material weaknesses in 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 these material weaknesses, leading to inflated reported goodwill following the Amelia Acquisition [2]. - The lawsuit indicates that SoundHound AI, Inc. may require additional time and resources to properly account for the SYNQ3 and Amelia Acquisitions, increasing the risk of delayed financial report filings with the SEC [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until May 27, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [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].