Investor Alert: Robbins LLP Informs Stockholders of the SoundHound AI, Inc. Class Action Lawsuit
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Robbins LLP has filed a class action lawsuit against SoundHound AI, Inc. alleging material weaknesses in internal financial controls, particularly related to corporate acquisitions of SYNQ3 and Amelia. The company disclosed on March 4, 2025, that it would be unable to timely file its 2024 Annual Report due to accounting complexities, causing its stock to drop 5.86%.
March 29, 2025 | 8:15 am
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The class action lawsuit highlights significant internal control weaknesses in financial reporting, specifically around corporate acquisitions, which could impact investor confidence and financial transparency.
The lawsuit alleges material weaknesses in internal controls, potential inflation of goodwill, and challenges in accounting for recent acquisitions. These issues directly impact SOUN's financial credibility and could lead to investor uncertainty.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100