Important Notice for SoundHound AI, Inc. (SOUN) Shareholders
New York, April 7, 2025 – The Gross Law Firm, a leading national securities fraud law firm, notifies investors that a class action lawsuit has been filed against SoundHound AI, Inc. (SOUN) in the United States District Court for the Northern District of California. The lawsuit alleges that SoundHound AI, Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 and other federal securities laws.
Class Period and Eligibility
The class period for this lawsuit is from March 1, 2023, to February 28, 2025. If you purchased or acquired the shares of SoundHound AI, Inc. (SOUN) during this period, you may be a class member and eligible to participate in this action.
Possible Lead Plaintiff Appointment
The Gross Law Firm encourages shareholders who purchased or acquired the shares of SoundHound AI, Inc. (SOUN) during the class period to contact the firm as soon as possible. Shareholders may be able to serve as lead plaintiff in the action. Lead plaintiff appointments are typically determined based on the size of the shareholder’s loss and their level of involvement in the litigation.
Background
SoundHound AI, Inc. (SOUN) is a leading innovator in voice-enabled AI technology. The company’s flagship product, Hound, is a voice-activated personal assistant that uses deep learning neural networks to process and understand natural language queries. SoundHound’s technology has gained widespread recognition and has been integrated into various consumer electronics and automotive applications.
Allegations
The class action lawsuit alleges that SoundHound AI, Inc. and its executives made false and misleading statements regarding the company’s financial performance and business prospects. Specifically, the lawsuit alleges that the company failed to disclose the true financial condition of its subsidiary, Houndify, which provides the voice recognition technology for third-party devices. The lawsuit further alleges that the company’s revenue growth was overstated due to the recognition of unrealized revenue and the failure to disclose the true nature of its revenue recognition practices.
Impact on Individual Investors
For individual investors, this lawsuit could result in significant financial losses if the allegations are proven true. The lawsuit seeks damages for losses suffered by shareholders during the class period. If the case is successful, shareholders may be entitled to recover their losses, plus any additional damages and legal fees.
Impact on the World
The impact of this lawsuit on the world could be significant, especially for investors in technology companies and the wider investment community. The case highlights the importance of transparency and accurate financial reporting in the technology sector. If the allegations are proven true, it could lead to increased scrutiny of other technology companies and their financial reporting practices.
Conclusion
If you purchased or acquired shares of SoundHound AI, Inc. (SOUN) during the class period, it is important that you contact The Gross Law Firm as soon as possible. The firm is committed to fighting for the rights of investors and ensuring that companies provide accurate and transparent financial information to their shareholders. With the potential for significant financial losses and the wider implications for the technology sector, it is crucial that shareholders take action and make their voices heard.
- If you purchased or acquired shares of SoundHound AI, Inc. (SOUN) during the class period, contact The Gross Law Firm for possible lead plaintiff appointment.
- The lawsuit alleges that SoundHound AI, Inc. and its executives made false and misleading statements regarding the company’s financial performance and business prospects.
- The case could result in significant financial losses for individual investors and increased scrutiny of other technology companies’ financial reporting practices.
