A securities class action has been filed in the USDC — C.D.CA. against Sonder Holdings Inc. (SOND) (“Sonder” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Sonder securities between March 16, 2023 and March 15, 2024, both dates inclusive (the “Class Period”).

Defendant Sonder engages in hospitality services. It operates and manages various accommodations that are suitable for one night and extended stays.

The complaint alleges, defendants throughout the Class Period made materially 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 Sonder accounted for the valuation and impairment of operating lease right-of-use (“ROU”) assets;

(3) as a result, Sonder would need 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 and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you purchased Sonder securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.