Class Action Lawsuit Filed Against SoundHound AI, Inc.
On March 29, 2025, Robbins LLP announced that a class action lawsuit has been initiated against SoundHound AI, Inc. (SOUN) on behalf of all persons and entities who purchased or otherwise acquired the company’s securities between May 10, 2024, and March 3, 2025.
Background on SoundHound AI, Inc.
SoundHound AI, Inc. is a leading independent voice artificial intelligence (AI) platform provider, offering businesses across various industries the ability to deliver high-quality conversational experiences to their customers. The company’s platform enables seamless voice interactions, natural language understanding, and real-time speech recognition.
The Class Action Lawsuit
The lawsuit alleges that SoundHound AI, Inc. and certain of its executives made false and misleading statements regarding the company’s business, operations, and financial performance. Specifically, the complaint alleges that the defendants failed to disclose that the company’s growth was decelerating, and that its revenue and customer growth were not meeting internal projections.
Impact on Individual Investors
If you purchased or otherwise acquired SoundHound AI, Inc. securities between May 10, 2024, and March 3, 2025, you may be entitled to compensation. The class action seeks to recover damages on behalf of investors who have suffered financial losses as a result of the defendants’ alleged securities law violations.
- If you are a SoundHound AI, Inc. shareholder and wish to participate in the class action, you must file a motion with the court no later than the deadline set forth in the notice.
- You may also choose to remain an absent class member and do nothing at this time.
Impact on the World
The impact of this class action lawsuit on the world at large may not be immediately apparent. However, it could potentially lead to increased scrutiny and regulatory oversight of the voice AI industry. Additionally, it may serve as a reminder to investors to carefully research companies and their financial statements before making investment decisions.
Conclusion
The filing of a class action lawsuit against SoundHound AI, Inc. raises concerns about the company’s financial reporting and business performance. If you are a SoundHound AI, Inc. shareholder, you may be entitled to compensation and should consider filing a motion with the court or remaining an absent class member. The lawsuit could also have broader implications for the voice AI industry and the regulatory environment surrounding it.
As always, it is important for investors to stay informed and seek professional advice when making investment decisions.
