Sonder Holdings Inc. (SOND) False SEC Reports Case

C.D. California

Court

2:24-cv-02952

Case number

03/16/2023

Class period Start

03/15/2024

Class period End

06/10/2024

Lead Plaintiff motion deadline

$SOND investor filed a class action against Sonder Holdings Inc. for incorrect reports with the SEC. 
On March 15, 2024, Sonder (SOND) filed a Report with the SEC stating that its 2022 annual and 2023 quarterly statements were unreliable and that the 2023 annual report would be filed late. 
On it, $SOND fell 38.2%, losing $23M+ of shareholder value.
 On March 15, 2024, Sonder filed a Current Report on Form 8-K with the SEC announcing consolidated financial statements for 2022 and financial statements in quarterly reports of 2023 should no longer be relied upon due to accounting errors related to the valuation and impairment of operating lease right of use assets and related items.
In addition, Sonder stated that it will not timely file its 2023 Annual Report and will file a notification of late filing with the SEC.

On this news, $SOND fell 38.2% and lost over $23 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect SOND of inaccurate SEC reporting, which led to their losses.

The first $SOND investor filed a class action against Sonder Holdings Inc. for incorrect reports with the SEC in C.D. California court.

Case Status

Case Consolidation

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

03/18/2024

Filing date

04/11/2024

Lead Plaintiff Deadline

06/10/2024

Sonder Holdings Inc. (SOND) False SEC Reports Case

Collecting participants…