SOUN INVESTOR DEADLINE: 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 due to alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements and material weaknesses in financial reporting controls [1][3]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Liles v. SoundHound AI, Inc., and 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's executives made false statements regarding the company's internal controls and financial reporting [3]. 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 acquisitions [3]. - It is alleged that SoundHound overstated its remediation efforts regarding these weaknesses, leading to inflated goodwill from its acquisition of Amelia Holdings, Inc. [3]. - The company is also accused of requiring additional time and resources to account for its acquisitions of SYNQ3 and Amelia, increasing the risk of delayed financial report filings [3][4]. Group 3: Impact on Stock Price - Following the disclosure on March 4, 2025, regarding the inability to timely file its annual report for 2024, SoundHound's stock price fell nearly 6% [4]. Group 4: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in this class action lawsuit and has a strong track record in securities fraud litigation [6].