Wolf Haldenstein Adler Freeman & Herz LLP Announces the Filing of a Class Action Against SoundHound AI, Inc.

Class Action Reveals Misleading Statements Regarding SoundHound AI's Business Operations

/EIN News/ -- NEW YORK, March 31, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP, a distinguished law firm, announces that a class action lawsuit has been filed against SoundHound AI, Inc. ("SoundHound" or the "Company")(NASDAQ: SOUN) and certain officers on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired SoundHound securities between May 10, 2024 and March 3, 2025, both dates inclusive (the "Class Period")

If you are an investor who purchased or otherwise acquired SoundHound securities during the Class Period, you have until May 27, 2025 to ask the Court to appoint you as Lead Plaintiff for the class.

PLEASE CLICK HERE TO JOIN CASE AND SUBMIT CONTACT INFORMATION

The filed complaint alleges that throughout the Class Period, the defendants made materially false, misleading and potentially damaging statements regarding the Business Operations of SoundHound AI. These include unvalidated claims about the Company''s status, capabilities, and prospects, which have had considerable adverse effects on investors who relied on the information shared.

On March 4, 2025, SoundHound disclosed in a filing with the United States Securities and Exchange Commission ("SEC") that it would be unable to timely file its Annual Report for 2024 (the "2024 10-K") SoundHound stated that "[d]ue to the complexity of accounting for [the SYNQ3 and Amelia Acquisitions], the Company require[d] additional time to prepare financial statements and accompanying notes" and that it "ha[d] identified material weaknesses in its internal control over financial reporting."

Subsequently, on March 11, 2025, SoundHound filed its 2024 10-K. In the 2024 10-K, SoundHound stated, in relevant part, that, as of December 31, 2024, "[t]he Company did not design and maintain effective controls related to the identification of and accounting for certain non-routine, unusual or complex transactions, including the accounting for complex financing transactions and acquisitions"—disclosing for the first time that the Company's lack of effective controls was impairing its ability to account for corporate acquisitions.

Wolf Haldenstein Adler Freeman & Herz LLP is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore decades of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.

Contact:

• Phone: (800) 575-0735 or (212) 545-4774
• Email:classmember@whafh.com
• Contact Person: Gregory Stone, Director of Case and Financial Analysis