SOUN INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that SoundHound AI, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit

Core Viewpoint - The SoundHound AI, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims related to misleading statements and internal control weaknesses during the specified class period [1][3]. Group 1: Class Action Details - The class action lawsuit is titled Liles v. SoundHound AI, Inc., and it allows purchasers of SoundHound securities from May 10, 2024, to March 3, 2025, to seek lead plaintiff status by May 27, 2025 [1][5]. - The lawsuit alleges that SoundHound's executives made false statements regarding the company's internal controls and financial reporting, particularly concerning acquisitions [3][4]. Group 2: Allegations Against SoundHound - Specific allegations include that SoundHound had material weaknesses in its internal controls, which affected its ability to account for acquisitions, leading to inflated goodwill reported after acquiring Amelia Holdings, Inc. [3][4]. - The company 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, resulting in a nearly 6% drop in stock price [4]. Group 3: Legal Process and Firm Background - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased SoundHound securities during the class period to seek lead plaintiff status, which enables them to direct the lawsuit on behalf of the class [5]. - Robbins Geller Rudman & Dowd LLP, the law firm representing the plaintiffs, is noted for its significant recoveries in securities-related class action cases, having recovered over $2.5 billion for investors in 2024 alone [6].