SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SoundHound AI, Inc. - SOUN
NEW YORK, Aug. 18, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of SoundHound AI, Inc. ("SoundHound" or the "Company") (NASDAQ: SOUN). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether SoundHound and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 27, 2023, the market analyst and investment firm Culper Research released a report on SoundHound. The report alleged, in part, that SoundHound is a "flailing AI wannabe claiming to have revolutionary technology, a growing restaurant business, and a massive backlog of contracts. In our view, SoundHound has misled investors on each of these items: the Company's AI simply doesn't work - it relies on call centers staffed by humans; SoundHound's foray into restaurants is a disaster; the Company's backlog figures are bogus."
On this news, SoundHound's stock price fell $0.22 per share, or 8.98%, to close at $2.23 per share on July 23, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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