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SOND.US
id: 1182

Sonder Holdings Inc. (SOND) False SEC Reports Case

C.D. California
Court
2:24-cv-02952
Case number
16 Mar 2023
Class period Start
15 Mar 2024
Class period End
10 Jun 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
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
18 March 2024
Filing date
11 April 2024
Lead Plaintiff Deadline
10 June 2024
Collecting participants…

Sonder Holdings Inc

Sonder Holdings Inc. engages in the hospitality business. It operates and manages properties comprising 1-, 2-, and 3+ bedroom; and studio apartments, as well as 1-bedroom hotel rooms for leisure t...

    Ticker
    SOND.US
    ISIN
    US83542D1028
    CIK
    1819395
    Sector
    Consumer Cyclical
    Industry
    Lodging
    Country
    USA
    Address
    101 15th Street, San Francisco, CA, United States, 94103