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Datavault AI Inc. Class Action Lawsuit - DVLT

Company: Datavault AI Inc. (NASDAQ: DVLT)
Lead Plaintiff Deadline: October 5, 2026 (54 Days Left)
Class Period: September 4, 2024 - October 30, 2025

54
Days Left

Lead Plaintiff Deadline

Oct 5, 2026

Join the Datavault AI Inc. Class Action Lawsuit

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

I have not sought to serve nor have I served as a class representative in any federal securities fraud case. I have sought to serve as a class representative in

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

Yes. I certify under penalty of perjury that the foregoing is true and correct. Executed this No. I certify under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Datavault AI Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

I have reviewed the complaint linked in paragraph 1

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Allegations

The filed complaint alleges that Datavault AI Inc made materially false and/or misleading statements and/or failed to disclose that: (i) defendants had overstated the economic value to Datavault AI of its various corporate partnerships with, inter alia, Scilex, Burke, and Nature’s Miracle; (ii) defendants had overstated the volume of trading activity on the Datavault Platform, which was in fact minimal; (iii) the Company’s undisclosed connections with Withrow, a convicted felon, when revealed, would cause Datavault AI to incur reputational harm; (iv) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Eligibility

In order to be eligible to join the DVLT class action lawsuit, you must have incurred a loss on shares of Datavault AI Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Datavault AI Inc. during the relevant time frame or pursuant to the relevant offering(s), you have until October 5, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Datavault AI Inc Class Action Lawsuit Details

Key Facts About Datavault AI Inc. (NASDAQ: DVLT)

● The Allegation: The complaint alleges Datavault AI overstated the economic value of partnerships with Burke Products, Scilex Holding Company, and Nature's Miracle Holding Inc., overstated trading activity on the Datavault Platform, and failed to disclose leadership connections that could cause reputational harm.

● The Stock Drop: Datavault AI stock fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025, after Wolfpack Research published a short report challenging the company's partnership claims, platform activity, and leadership affiliations.

● Class Period & Defendants: The class period runs from September 4, 2024 through October 30, 2025, inclusive. The named defendants are Datavault AI Inc., Brett Moyer (Chief Executive Officer until December 31, 2024, then Chief Financial Officer through the end of the Class Period), Nathaniel T. Bradley (Chief Executive Officer from December 31, 2024 through the end of the Class Period), and Gary Williams (Chief Accounting Officer until November 30, 2024).

● Lead Plaintiff Deadline: October 5, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline.

Datavault AI Class Action Summary
Company	Datavault AI Inc. (NASDAQ: DVLT)
Lead Plaintiff Deadline	October 5, 2026
Class Period	September 4, 2024 - October 30, 2025
Stock Drop	October 31, 2025 - DVLT fell $0.49 (19.44%) to $2.03

Introduction

A securities class action lawsuit has been filed against Datavault AI Inc. in the United States District Court for the Eastern District of Pennsylvania. The lawsuit is brought by plaintiff Carla Aramouni for investors who purchased Datavault AI securities from September 4, 2024 through October 30, 2025.

The complaint alleges defendants made materially false and misleading statements about Datavault AI's business and partnerships. Plaintiffs claim the company overstated the value of deals with Burke, Scilex, and Nature's Miracle.

The truth allegedly began to emerge when Wolfpack Research published a short report on October 31, 2025. Datavault AI stock fell 19.44% that day, closing at $2.03 per share.

Company Profile

Datavault AI Inc., formerly known as WiSA Technologies, Inc., purportedly owns and operates data management platforms, including the Datavault Platform. According to the complaint, the platform allows users to purchase or sell data tokenized using blockchain technology, and the company claims it helps organizations turn data into a strategic asset.

Class Period

September 4, 2024 – October 30, 2025

Investors who purchased or acquired Datavault AI Inc. (DVLT) securities during the Class Period may be eligible to seek recovery under federal securities laws.

Allegations

The complaint alleges that Datavault AI and certain senior officers made materially false and misleading statements about the company's business, operations, and compliance policies. The allegations center on the company's acquisition of Data Vault Holdings' intellectual property, including the Datavault Platform, and later public claims about commercial partnerships, blockchain marketplace activity, and leadership credentials.

The Class Period begins on September 4, 2024, when WiSA Technologies announced a definitive agreement to acquire Data Vault Holdings' intellectual property for $210 million. In that release, the company claimed the Datavault Platform created value through scarcity, utility, and encrypted data protection, and generated revenue through licensing partnerships. The same release touted Nathaniel T. Bradley's track record in commercializing intellectual property, while allegedly omitting past SEC charges against Bradley relating to statements made while he served as Chief Technology Officer of Parallax Health Sciences, Inc.

Plaintiffs allege the company continued to promote the Datavault Platform and its monetization potential. On a November 15, 2024 conference call, Bradley allegedly described the platform as an exchange where the company would sell data for clients and share in transaction yields. On May 20, 2025, Bradley allegedly called the Datavault Platform the center of the company's strategy and stated that customer use of blockchain to reduce costs and create value was being perfected through the platform.

The lawsuit also challenges Datavault AI's statements about partnerships with Burke Products, Scilex Holding Company, and Nature's Miracle Holding Inc. According to the complaint, defendants overstated the economic value of those arrangements, overstated trading activity on the Datavault Platform, and failed to disclose connections involving Edward Withrow III, whom the complaint identifies as a convicted felon and co-inventor with Bradley on multiple Data Vault Holdings patents. Plaintiffs allege defendants knew or recklessly disregarded these adverse facts, causing public statements to lack a reasonable basis.

The Truth Emerges

The truth allegedly began to emerge on October 31, 2025, when Wolfpack Research published a short report about Datavault AI. The Wolfpack Report alleged that Datavault AI was a "stock promotion" that relied on misleading press releases and "empty claims" involving artificial intelligence, quantum computing, Web 3.0, and data monetization.

According to the complaint, Wolfpack disputed the economic upside of Datavault AI's partnerships. It stated that Burke's contracts involved "run-of-the-mill equipment such as hoses, piping, fuses, and electrical connectors," rather than the secure data and predictive intelligence solutions Datavault AI had emphasized. Wolfpack also questioned whether Scilex and Nature's Miracle had the resources to satisfy their announced commitments, citing Scilex's market capitalization and cash position, and Nature's Miracle's reported cash of $9,511 as of its Q2 2025 Form 10-Q.

The report also challenged Datavault Platform activity and leadership disclosures. Wolfpack allegedly found that trading activity on the platform appeared "minimal, if not non-existent," and that available marketplace items included non-fungible tokens and historical weather data uploaded by company employees. It also raised concerns about Bradley's past SEC charges and alleged connections to Edward Withrow III through Data Vault Holdings and Parallax-related entities.

Market Reaction

Following publication of the Wolfpack Report on October 31, 2025, Datavault AI's stock price fell $0.49 per share, or 19.44%, to close at $2.03 per share. The complaint alleges this decline caused significant losses to investors who purchased or acquired Datavault AI securities during the Class Period.

Next Steps

● Lead Plaintiff Deadline: October 5, 2026

● After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

● Defendants may file a motion to dismiss.

● If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.

Deadline
Oct 5, 2026

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