A securities class action has been filed against Datavault AI Inc. (DVLT) on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Datavault AI securities between September 4, 2024 through October 30, 2025. This case has been filed in the USDC – EDPA.
The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Defendants had overstated the economic value to Datavault AI of its various corporate partnerships with, inter alia, Burke, Scilex, and Nature’s Miracle; (2) Defendants had overstated the volume of trading activity on the Datavault Platform, which was in fact minimal; (3) the Company’s undisclosed connections with Withrow, a convicted felon, when revealed, would cause Datavault AI to incur reputational harm; (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On October 31, 2025, Wolfpack Research published a short report on Datavault AI alleging, among other things, that Datavault AI was a “stock promotion” that relied on misleading press releases and “empty claims” concerning artificial intelligence, quantum computing, Web 3.0, and data monetization, and raising concerns about the Company’s partnerships, blockchain platform trading activity, and leadership affiliations with a convicted felon. On this news, Datavault AI’s stock price fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025.