Technology,
Securities
May 14, 2025
SoundHound AI faces merged stockholder lawsuits over goodwill claim
SoundHound AI faces investor lawsuits alleging misleading financial reports and inflated goodwill from an $80 million acquisition, causing a stock price drop after a delayed SEC filing.
Stockholder litigation against SoundHound AI, an artificial intelligence company specializing in voice recognition, is heating up after a federal judge in San Francisco consolidated two investor lawsuits on Tuesday.
The investors accused the company of failing to maintain financial reporting controls and misleading the public about the benefit of an $80 million acquisition of a subsidiary, Amelia, last year.
U.S. District Judge Rita F. Lin's consolidated two suits cla...
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