Case Summary

Sonder Holdings

NASDAQ: SOND

Case Details

  • Duffaydar v. Sonder Holdings Inc. et al.
  • Class Period: March 16, 2023 - March 15, 2024
  • Date Filed:April 11, 2024
  • Jurisdiction:U.S. District Court, Central District of California
  • Docket Number: 2:24-cv-02952
  • Lead Plaintiff Deadline: June 10, 2024
Days Left to
Seek Plaintiff
16

Overview

A class action lawsuit has been filed against Sonder Holdings, Inc. (“Sonder” or the “Company”) (NASDAQ: SOND) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934. The Sonder lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Sonder securities between March 16, 2023, and March 15, 2024, both dates inclusive (the “Class Period”) and investors have until June 10, 2024, to seek appointment as lead plaintiff of the Sonder class action lawsuit.

Sonder Holdings Inc. is a hospitality company. The Company provides a variety of accommodation options, from spacious rooms to fully equipped suites and apartments.

The lawsuit alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Sonder failed to disclose all issues with its internal controls; (2) Sonder’s financial statements for the 2022 Annual Report and the interim periods ended March 31, June 30, and September 30, 2023, contained material errors in the way the Company accounted for the valuation and impairment of operating lease ROU assets and;(3) as a result, Sonder would need to restate its previously issued financial statements for those periods.

On March 15, 2024, after market hours, the Company issued a press release on Form 8-K announcing the Company’s audited financial statement for the 2022 Annual Report, and the unaudited consolidated financial statements in 2023 (collectively with the 2022 Annual Report, the “Affected Financial Statements”), should no longer be relied upon due to “accounting errors related to the valuation and impairment of operating lease ROU assets and related items.” 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, damaging investors.

*            *            *

If you purchased or otherwise acquired publicly traded Sonder securities between March 16, 2023, and March 15, 2024, both dates inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Sonder lawsuit is June 10, 2024.

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