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SoundHound AI Faces Class Action Lawsuit Over Alleged Securities Fraud: What Investors Need to Know
SoundHound AI faces a class action lawsuit over alleged securities fraud and false financial reporting. Investors who lost money between May 2024 and March 2025 may seek recovery.
SoundHound AI, Inc. Faces Securities Class Action Lawsuit
Investors who experienced losses on their SoundHound AI, Inc. (NASDAQ: SOUN) stock between May 10, 2024, and March 3, 2025, may have grounds to seek recovery under federal securities laws. A class action lawsuit has been initiated against SoundHound AI, alleging securities fraud related to the company’s financial reporting and internal controls.
Details of the Allegations
The complaint accuses SoundHound AI of making false statements and concealing critical information, including:
- Material weaknesses in the company’s internal controls over financial reporting, which impaired its ability to properly account for corporate acquisitions.
- Overstating the remediation status and capabilities regarding these internal control weaknesses.
- Inflated goodwill reported following the Amelia Acquisition that requires correction.
- Additional time and expenses needed to accurately account for the SYNQ3 and Amelia Acquisitions.
- An increased risk of delayed SEC financial filings due to the above issues.
- Public statements that were materially false and misleading throughout the relevant period.
What Investors Should Do Next
If you owned SoundHound AI stock during the specified period and suffered financial losses—even if you still hold those shares—you may qualify to participate in this class action. There is no cost or obligation to learn about your rights or to submit a claim.
To get more information or to submit your claim, visit the SoundHound AI Lawsuit Submission Form. Alternatively, you can contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or call (212) 363-7500 to speak directly with experienced shareholder advocates.
About Levi & Korsinsky
Levi & Korsinsky LLP is a nationally recognized securities litigation firm with over 20 years of experience. The firm has recovered hundreds of millions of dollars for shareholders and consistently ranks among the top securities litigation firms in the U.S. Their team of more than 70 employees focuses exclusively on investor rights and complex securities cases.
For more about their work and expertise, visit Levi & Korsinsky’s website.
Contact Information
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: jlevi@levikorsinsky.com
Phone: (212) 363-7500
Fax: (212) 363-7171