Investigation Alert Rosen Law Firm Announces Investigation of SoundHound AI, Inc. for Potential Securities Claims

Investor rights law firm Rosen Law Firm is investigating potential securities claims against SoundHound AI, Inc. for allegedly issuing misleading business information. Shareholders who purchased SoundHound securities may be entitled to

Investigation Alert Rosen Law Firm Announces Investigation of SoundHound AI, Inc. for Potential Securities Claims

A global investor rights law firm, WHY Rosen Law Firm, has announced that it is conducting an investigation into potential securities claims on behalf of shareholders of SoundHound AI, Inc. This comes as a result of allegations that SoundHound may have provided misleading business information to the public. Shareholders who purchased SoundHound securities may be entitled to compensation without any out-of-pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is currently preparing a class action seeking recovery of investor losses.

To participate in the prospective class action, individuals can visit the website provided by the Rosen Law Firm or contact Phillip Kim, Esq. toll-free at the given phone number or via email for more information on how to join. The firm encourages investors to seek qualified counsel with a proven track record in leadership roles. It warns against selecting firms without comparable experience or resources, as many do not actually litigate securities class actions.

On July 27, 2023, Culper Research, a market analyst and investment firm, released a report on SoundHound. The report alleged that SoundHound is an AI company claiming to have revolutionary technology and a successful restaurant business with a large backlog of contracts. However, Culper Research argues that these claims are misleading. According to their findings, SoundHound’s AI does not work effectively and relies heavily on call centers staffed by humans. Additionally, they claim that the company’s foray into restaurants has been disastrous and that its backlog figures are inaccurate.

Following the release of this report by Culper Research, shares of SoundHound common stock experienced a decline in price. Specifically, the stock dropped by $0.22 per share or approximately 8.97%, closing at $2.23 on July 27th.

The Rosen Law Firm highlights its expertise in securities class actions and shareholder derivative litigation, representing investors worldwide. The firm has a successful track record, including achieving the largest ever securities class action settlement against a Chinese company. In 2017, the firm was ranked number one by ISS Securities Class Action Services for the number of securities class action settlements. Since 2013, they have consistently been ranked in the top four and have recovered hundreds of millions of dollars for investors.

For updates on this case and others, individuals can follow the Rosen Law Firm on LinkedIn, Twitter, or Facebook. It is important to note that prior results do not guarantee a similar outcome. Contact information for Laurence Rosen, Esq., Phillip Kim, Esq., and the Rosen Law Firm is provided for those seeking further information or wishing to participate in the investigation.