SoundHound AI, Inc. (SOUN)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of SoundHound AI, Inc. (“SoundHound” or “the Company”) (NASDAQ: SOUN). Investors who purchased SoundHound securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether SoundHound has violated federal securities laws.
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, the price of SoundHound common stock declined by as much as 12% in intraday trading on July 27, 2023.
If you are aware of any facts relating to this investigation or purchased SoundHound securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]