SoundHound AI, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses. May 27, 2025 Deadline to file Lead Plaintiff Motion

Core Viewpoint - A class action lawsuit has been filed against SoundHound AI, Inc. for allegedly making false or misleading statements and failing to disclose critical information during the specified Class Period from May 10, 2024, to March 3, 2025 [1][3]. Group 1: Allegations of the Lawsuit - 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]. - The reported goodwill from the acquisition of Amelia Holdings, Inc. was inflated and would require correction due to these weaknesses [3]. - SoundHound is expected to need additional time and resources to accurately account for its acquisitions of SYNQ3 and Amelia [3]. - The issues raised in the lawsuit increased the risk of SoundHound failing to file certain financial reports with the U.S. Securities and Exchange Commission on time [3]. Group 2: Impact of Disclosure - On March 4, 2025, SoundHound announced it would be unable to file its annual report for 2024 on time, citing the complexity of accounting for the SYNQ3 and Amelia acquisitions [4]. - The company acknowledged the identification of material weaknesses in its internal control over financial reporting during this announcement [4]. - Following this disclosure, SoundHound's stock price experienced a nearly 6% decline [4].