Sonder Holdings, Inc. (NASDAQ: SOND)

This lawsuit is for anyone who acquired securities in Sonder Holdings, Inc. (NASDAQ: SOND) from March 16, 2023 through March 15, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had proper internal controls but then by failing to properly account for the value of the Company’s leased assets.

On March 15, 2024, Sonder disclosed that it would be unable to timely file its fourth quarter and full year 2023 financial results, and that it had determined that the Company’s financial statements for the year ended December 31, 2022 and the first three quarters 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.” Additionally, the Company stated that it anticipates an ongoing assessment “will result in one or more material weaknesses in the Company’s internal control over financial reporting during the applicable periods, in addition to the Company’s previously identified and reported material weaknesses.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Sonder Holdings, Inc. (NASDAQ: SOND) from March 16, 2023 through March 15, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.