SOUN INVESTOR DEADLINE: SoundHound AI, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit

Core Viewpoint - A class action lawsuit has been filed against SoundHound AI, Inc. for alleged violations of the Securities Exchange Act of 1934, with a focus on internal control weaknesses and financial reporting issues [1][3][4]. Group 1: Lawsuit Details - The class action lawsuit is titled Liles v. SoundHound AI, Inc., and it covers purchasers of SoundHound securities from May 10, 2024, to March 3, 2025 [1]. - Investors have until May 27, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that SoundHound made false or misleading statements regarding its internal controls and financial reporting, particularly related to its acquisitions [3][4]. Group 2: Allegations Against SoundHound - The lawsuit 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]. - Following the acquisition of Amelia Holdings, Inc., SoundHound's reported goodwill was inflated and required correction [3]. - 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 its acquisitions, leading to 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 [5]. - Robbins Geller Rudman & Dowd LLP is the law firm representing investors in this case, known for securing significant monetary relief for investors in securities fraud cases [6].