Investigation announced for Long-Term Investors who hold shares of SoundHound AI, Inc. (NASDAQ: SOUN) over potential Wrongdoing

An investigation was announced for long-term investors in shares of SoundHound AI, Inc. (NASDAQ: SOUN) concerning potential breaches of fiduciary duties by certain directors of SoundHound AI, Inc.

Investors who are current long term investors in SoundHound AI, Inc. (NASDAQ: SOUN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: SOUN stocks follows a lawsuit filed against SoundHound AI, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: SOUN stocks, concerns whether certain SoundHound AI, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that the material weaknesses in SoundHound's internal controls over financial reporting impaired the Company's ability to effectively account for corporate acquisitions, that in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting, that as a result of the foregoing material weaknesses, SoundHound's reported goodwill following the Amelia Acquisition was inflated and would need to be corrected, that further, SoundHound would likely require extra time and expense to effectively account for the SYNQ3 and Amelia Acquisitions, that the foregoing increased the risk that the Company would be unable to timely file certain financial reports with the United States Securities and Exchange Commission ("SEC"), and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of SoundHound AI, Inc. (NASDAQ: SOUN) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.