SoundHound AI Surges to 115th in Trading Volume with $980 Million Turnover Amid Legal Battle

On May 12, 2025, SoundHound AI (SOUN) experienced a significant surge in trading volume, with a turnover of $980 million, marking a 141.34% increase from the previous day. This substantial rise placed SoundHound AI at the 115th position in terms of trading volume for the day. The stock price of SoundHound AI also saw a notable increase of 22.61%.

SoundHound AI is currently facing a class action securities lawsuit, which seeks to recover losses for shareholders who were adversely affected by alleged misrepresentations regarding the company's internal financial controls. The lawsuit claims that SoundHound AI gave investors the impression that it had resolved weaknesses in its internal financial controls when, in fact, it had not. This legal action has raised concerns among investors about the company's transparency and financial management practices.

In response to the lawsuit, several law firms have notified shareholders of SoundHound AI about the class action and the upcoming deadline for participation. Shareholders with losses of $50,000 or more are encouraged to contact these firms to explore their options for leading the securities fraud lawsuit. The class period for the lawsuit is from May 10, 2024, to March 3, 2025.

Despite the legal challenges, SoundHound AI continues to benefit from strong demand for its voice AI technology. The company's innovative solutions in voice recognition and natural language processing have positioned it as a leader in the AI industry. This strong demand has helped to offset some of the negative impact of the lawsuit on the company's stock price.