The complaint filed by Schall, Brown & Schwartz LLP alleges that Datavault violated the Securities Exchange Act of 1934 by disseminating false and misleading information. According to the filing, the company inflated the value of its artificial intelligence contributions to corporate partnerships, specifically citing its deal with Nature's Miracle. Furthermore, the suit claims management misrepresented the true volume of trading activity occurring on the platform.
Datavault AI Faces Class Action Over Alleged Securities Fraud
Investors who purchased Datavault AI Inc. shares between September 4, 2024, and October 30, 2025, are being recruited for a class action lawsuit. The litigation targets the firm for allegedly misleading shareholders regarding the company's AI partnerships, trading volumes, and undisclosed ties to a convicted felon.
Reputational damage followed the revelation of the company's connections to a convicted felon, leading to a decline in shareholder value. Shareholders seeking to participate in the litigation or be considered for lead plaintiff status must act before the October 5, 2026, deadline. Brian Schall and David Schwartz of the Los Angeles-based firm are overseeing the case, which remains pending certification.
Comments (0)
No comments yet. Be the first!