Class Action Lawsuit Filed Against SoundHound AI, Inc.
On April 4, 2025, the law firm of Kessler Topaz Meltzer & Check, LLP announced the filing of a securities class action lawsuit against SoundHound AI, Inc. (SoundHound) in the United States District Court for the Northern District of California. The lawsuit was filed on behalf of investors who purchased or otherwise acquired SoundHound securities between May 10, 2024, and March 3, 2025, inclusive (the “Class Period”).
Details of the Lawsuit
The complaint alleges that SoundHound made false and misleading statements and failed to disclose material information during the Class Period. Specifically, the complaint alleges that SoundHound misrepresented the commercial prospects of its Houndify voice recognition technology and its partnership with Mercedes-Benz.
Impact on Individual Investors
If you purchased or otherwise acquired SoundHound securities during the Class Period, you may be eligible to participate in the securities class action. The lead plaintiff deadline is May 27, 2025. If the plaintiffs are successful, they may be entitled to damages and other remedies.
Impact on the World
The filing of this securities class action lawsuit against SoundHound could have significant implications for the technology industry and the voice recognition market in particular. It may lead to increased scrutiny of companies in this space and potentially impact investor confidence in these types of companies.
Additional Information
According to various news outlets, SoundHound’s stock price dropped significantly following the announcement of the lawsuit. The company’s stock had already been underperforming in the months leading up to the filing, raising concerns among investors.
Conclusion
The filing of a securities class action lawsuit against SoundHound AI, Inc. is a serious matter that could have significant implications for individual investors and the technology industry as a whole. If you purchased SoundHound securities during the Class Period, it is important that you understand your rights and potential remedies. We will continue to monitor this developing situation and provide updates as more information becomes available.
- Kessler Topaz Meltzer & Check, LLP files securities class action lawsuit against SoundHound AI, Inc.
- Lawsuit alleges false and misleading statements regarding Houndify technology and Mercedes-Benz partnership.
- Lead plaintiff deadline is May 27, 2025.
- Impact on individual investors: potential damages and other remedies if plaintiffs are successful.
- Impact on the world: increased scrutiny of technology companies and potential impact on investor confidence.
