Levi & Korsinsky Investigates SoundHound AI, Inc. for Potential Securities Law Violations
On March 8, 2025, Levi & Korsinsky, a leading securities law firm, announced that it has initiated an investigation into SoundHound AI, Inc. (SOUN) regarding potential securities laws violations. The investigation comes after the company filed a Notification of Late Filing (Form 12b-25) with the Securities and Exchange Commission (SEC) on February 28, 2025, regarding its Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
Background
SoundHound AI, Inc. is a leading innovator in voice recognition technology based in Santa Clara, California. The company’s flagship product, Houndify, is a voice AI platform that powers voice-enabled applications for various industries, including automotive, smart home, and healthcare. SoundHound AI, Inc. went public through a SPAC merger with Inoveas Acquisition Corp. in October 2020.
The Late Filing of Form 10-K
A Form 10-K is an annual report that publicly-traded companies must file with the SEC. The report contains comprehensive financial and operational information, including audited financial statements, management’s discussion and analysis, and other important disclosures. The late filing of this report may indicate that SoundHound AI, Inc. encountered significant issues during its audit process.
Levi & Korsinsky’s Investigation
Levi & Korsinsky’s investigation focuses on whether SoundHound AI, Inc. and its executives violated securities laws by making false or misleading statements or failing to disclose material information to investors. The firm encourages investors who have purchased SoundHound AI, Inc. securities between specific dates to contact them for more information.
Impact on Investors
The late filing of Form 10-K may raise concerns among investors, potentially leading to a decrease in the company’s stock price. Furthermore, the initiation of an investigation by Levi & Korsinsky could further negatively impact investor confidence. It is important for investors to closely monitor the situation and consider their potential next steps.
Impact on the World
The investigation into SoundHound AI, Inc. may send a strong message to other publicly-traded companies about the importance of timely and accurate financial reporting. Additionally, it could contribute to increased scrutiny of the voice recognition technology industry and its regulatory environment.
Conclusion
The investigation into SoundHound AI, Inc. by Levi & Korsinsky highlights the importance of accurate financial reporting and the potential consequences for companies and investors when this information is not disclosed in a timely manner. As the situation unfolds, investors should stay informed and consider their potential next steps. The outcome of this investigation could potentially set a precedent for the voice recognition technology industry and its regulatory environment.
- Levi & Korsinsky initiates an investigation into SoundHound AI, Inc. for potential securities law violations.
- The investigation comes after SoundHound AI, Inc.’s late filing of Form 10-K.
- The late filing may indicate significant issues during the audit process.
- Impacted investors are encouraged to contact Levi & Korsinsky for more information.
- The investigation could negatively impact investor confidence and potentially decrease the company’s stock price.
- The outcome of the investigation could set a precedent for the voice recognition technology industry and its regulatory environment.
