ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP is investigating claims on behalf of Sonder investors

NEW YORK, May 10, 2024 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating and reminds investors of potential claims against Sonder Holdings Inc. (“Sonder” or the “Company”) (NASDAQ: SOND). Deadline June 10, 2024 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses of more than $50,000 to contact him directly to discuss their options.

If you purchased or acquired securities in Sonder between March 16, 2023 and March 15, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partners Josh Wilson directly at 877-247-4292 or 212-983-9330 (ext. 1310). For more information you can also click here: www.faruqilaw.com/SOND.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995 www.faruqilaw.com.

As further discussed below, the complaint alleges that the Company and its officers violated federal securities laws by making false and/or misleading statements and/or by failing to disclose that: (1) Sonder failed to provide all disclose problems with its internal controls; (“ROU”) assets; (3) As a result, Sonder would be required to restate its previously issued financial statements for those periods; and (4) As a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading at all relevant times and/or lacked a reasonable basis. When the true details came to light, the lawsuit states that investors were harmed.

On March 15, 2024, after the close of trading, Sonder filed a Current Report on Form 8-K with the SEC disclosing its “audited consolidated financial statements for the year ended December 31, 2022 (the “2022 Financial Statements”) Unaudited condensed consolidated financial statements included in each of the Company’s quarterly reports on Form 10-Q filed with the (SEC) in 2023 (together with the 2022 annual financial statements, the “affected financial statements”) should no longer be considered timely to accounting errors relating to the valuation and impairment of operating lease rights (“ROU”) and related items.” In addition, Sonder stated: “It will not file its annual report on Form 10-K in a timely manner for the period ended December 31, 2023 fiscal year (the “FY 2023 10-K”) and file a Notice of Late Filing on Form 12b. 25 with the SEC.”

On this news, Sonder’s stock price fell $2.10 per share, or 38.2%, to close at $3.40 per share on March 18, 2024.

The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class, who is appropriate and typical of the class, and who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may request the Court to serve as lead plaintiff through counsel of their choice, or may elect to do nothing and remain an absent class member. Your ability to participate in any recovery will not be affected by the decision to serve as lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information about Sonder’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

To find out more about the Special Class action lawsuit, go for it www.faruqilaw.com/SOND or Call Faruqi & Faruqi Partners Josh Wilson directly at 877-247-4292 or 212-983-9330 (ext. 1310).

Lawyer advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar result with respect to future matters. We welcome the opportunity to discuss your individual case. All communications will be treated confidentially.

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