SAN DIEGO, April 10, 2025 /PRNewswire/ -- The law firm of 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, inclusive (the "Class Period"), have until 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 SoundHound's ...

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 controls [1][2]. 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 [2]. - Specific allegations include that the company had material weaknesses in internal controls over financial reporting, which impaired its ability to account for corporate acquisitions [2]. - It is claimed that SoundHound overstated its remediation efforts regarding these weaknesses, leading to inflated reported goodwill following the Amelia Acquisition [2]. - The company is also alleged to require additional time and resources to account for the SYNQ3 and Amelia Acquisitions, increasing the risk of delayed financial report filings with the SEC [2]. Group 2: Class Action Details - The deadline for shareholders to register for the class action is May 27, 2025, and they are encouraged to register promptly [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. - There is no cost or obligation for shareholders to participate in this case [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to deceit, fraud, and illegal business practices [4]. - The firm is committed to ensuring companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that artificially inflated stock prices [4].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages 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). [You may also click here for additional information] NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- ...

Core Viewpoint - A securities class action lawsuit has been filed against SoundHound AI, Inc. for allegedly making false and misleading statements regarding its financial reporting and internal controls during the Class Period from May 10, 2024, to March 3, 2025 [1]. Group 1: Allegations Against SoundHound - The complaint claims that SoundHound had material weaknesses in its internal controls over financial reporting, which affected its ability to account for corporate acquisitions [3]. - It is alleged that SoundHound overstated its remediation efforts regarding these internal control weaknesses [3]. - The reported goodwill from the acquisition of Amelia Holdings, Inc. in August 2024 was inflated and would require correction due to these weaknesses [3]. - SoundHound is expected to incur additional time and costs to properly account for its acquisitions, including Amelia Holdings, Inc. and SYNQ3 [3]. - The allegations suggest an increased risk of SoundHound failing to file certain financial reports with the SEC in a timely manner [3]. - Overall, the public statements made by SoundHound during the Class Period are claimed to be materially false and misleading [3]. Group 2: Legal Process and Participation - Investors in SoundHound have until May 27, 2025, to seek appointment as a lead plaintiff in the class action lawsuit [4]. - A lead plaintiff represents the interests of all class members and typically has the largest financial stake in the case [4]. - Investors can choose to participate actively or remain as absent class members without affecting their ability to share in any recovery [4].

RADNOR, Pa., April 8, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against SoundHound AI, Inc. ("SoundHound") (NASDAQ: SOUN) on behalf of those who purchased or otherwise acquired SoundHound securities between May 10, 2024, and March 3, 2025, inclusive (the "Class Period"). The lead plaintiff deadline is May 27, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered SoundHound losses, y ...

SoundHound AI (SOUN 3.96%) has been clobbered on the stock market this year. Shares of the provider of conversational artificial intelligence (AI) voice solutions have retreated 62% as of this writing even though the company has been delivering outstanding growth in recent quarters.A big reason behind SoundHound AI's sell-off this year has been the risk-averse nature of investors caused by the ongoing economic uncertainty. The trade tariffs imposed by the White House sent stocks packing, leading to an incre ...

Core 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].

Core Viewpoint - A class action lawsuit has been filed against SoundHound AI, Inc. for allegedly making misleading statements about its business operations, impacting investors who acquired securities during the specified class period [1][2]. Group 1: Lawsuit Details - The lawsuit is on behalf of all investors who purchased SoundHound securities between May 10, 2024, and March 3, 2025 [1]. - The complaint alleges that the defendants made materially false and misleading statements regarding SoundHound's business operations, including unvalidated claims about the company's status and prospects [2]. Group 2: Financial Reporting Issues - On March 4, 2025, SoundHound disclosed it would be unable to timely file its Annual Report for 2024 due to complexities in accounting for acquisitions and identified material weaknesses in internal controls over financial reporting [3]. - The 2024 10-K filing revealed that SoundHound lacked effective controls for accounting for complex transactions, impairing its ability to account for corporate acquisitions [3]. Group 3: Legal Representation - Wolf Haldenstein Adler Freeman & Herz LLP, a law firm with over 125 years of experience, is representing the investors in this case, emphasizing their commitment to justice for those financially harmed by misleading statements [4].

Core Viewpoint - SoundHound AI (SOUN) has experienced significant stock declines, with a 63.1% drop year to date and a 25% decrease in March, compounded by a class action lawsuit and adverse investor sentiment due to the global trade war [1][5][28] Stock Performance - SOUN shares have lost 11.8% on a recent Friday, reflecting negative investor sentiment [1] - The stock is currently trading below its 50-day and 200-day moving averages, indicating a bearish trend [7] Legal Challenges - SoundHound is facing a class action lawsuit alleging misleading information regarding its financial controls and accounting practices related to acquisitions [5][6] - The lawsuit claims that the company failed to manage complex financial situations adequately, leading to delays in financial reporting and corrections to inflated goodwill figures [5] Business Diversification - The company has reduced its reliance on a small number of clients, with revenue from its largest customer dropping from nearly 50% in 2023 to just over 14% in 2024 [9] - SoundHound has expanded into new verticals, including healthcare, energy, and government sectors, which strengthens its revenue base and positions it for stable growth [11] Strategic Partnerships - SoundHound has formed partnerships with major companies like NVIDIA, enhancing its voice AI capabilities and expanding its automotive applications [12] - The company is experiencing solid momentum in its automotive segment, with multiple Requests for Proposals and partnerships with electric vehicle brands [13] Market Potential - SoundHound targets expansive serviceable markets, with significant revenue opportunities in automotive and restaurant sectors, estimated at billions of dollars [16][17] - The company has secured a seven-figure, multi-year deal in the energy sector, indicating effective market penetration [17] Revenue Growth - SoundHound reported a 101% revenue growth to $34.5 million in Q4, with expectations of revenues between $157 million and $177 million for 2025, indicating a projected 97% year-over-year growth [18][26] Strategic Initiatives - The introduction of a voice commerce ecosystem marks a transformative step in SoundHound's business evolution, enhancing user interactions and driving commercial momentum [19][20] - The company has a growing backlog of nearly $1.2 billion, providing visibility into future revenue streams [26] Stock Valuation and Analyst Sentiment - SOUN shares are currently considered overvalued, with a forward price-to-sales ratio of 16.41, higher than the industry average [21] - Analysts have narrowed the consensus estimate for SOUN's 2025 loss per share, reflecting a positive shift in sentiment [24] - Three out of six analysts rate SOUN stock as a "Strong Buy," with an average price target suggesting a 97% upside from its latest closing price [27]

Core Viewpoint - The SoundHound AI, Inc. class action lawsuit alleges violations of the Securities Exchange Act of 1934 by the company and its executives, with a focus on internal control weaknesses and financial reporting issues [1][3][4]. Group 1: Class Action Details - Purchasers of SoundHound securities between May 10, 2024, and March 3, 2025, can seek appointment as lead plaintiff until May 27, 2025 [1]. - The lawsuit is titled Liles v. SoundHound AI, Inc., No. 25-cv-02915 (N.D. Cal.) [1]. - The allegations include false statements regarding internal controls and the accounting for acquisitions, specifically concerning Amelia Holdings, Inc. and SYNQ3 [3][4]. Group 2: Allegations Against SoundHound - The lawsuit claims that SoundHound had material weaknesses in its internal controls over financial reporting, affecting its ability to account for corporate acquisitions [3]. - SoundHound allegedly overstated its remediation efforts regarding these internal control weaknesses [3]. - Following the disclosure of its inability to timely file its annual report for 2024, SoundHound's stock price fell nearly 6% [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 [5]. - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud litigation, having recovered over $2.5 billion for investors in 2024 alone [6].