NASDAQ: SOUN: Kessler Topaz Meltzer & Check, LLP Announces the Filing of a Securities Class Action Lawsuit Against SoundHound AI, Inc.

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 the acquisitions of Amelia Holdings, Inc. and SYNQ3 [3] - The issues raised increased the risk of SoundHound failing to file certain financial reports with the SEC in a timely manner [3] - Overall, SoundHound's public statements were deemed materially false and misleading throughout the relevant period [3] Group 2: Legal Process and Participation - Investors in SoundHound have until May 27, 2025, to seek appointment as a lead plaintiff representative in the class action [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 absent from the proceedings without affecting their ability to share in any recovery [4]