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Lead Plaintiff Deadline
Oct 5, 2026
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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.
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.
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.
● 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.
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Datavault AI Class Action Summary |
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Company |
Datavault AI Inc. (NASDAQ: DVLT) |
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Lead Plaintiff Deadline |
October 5, 2026 |
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Class Period |
September 4, 2024 - October 30, 2025 |
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Stock Drop |
October 31, 2025 - DVLT fell $0.49 (19.44%) to $2.03 |
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.
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.
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.
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 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.
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.
● 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.
The Datavault AI shareholder lawsuit alleges that the company and certain officers made materially false and misleading statements during the Class Period. According to the complaint, defendants overstated the economic value of partnerships with Burke Products, Scilex Holding Company, and Nature's Miracle Holding Inc. Plaintiffs also allege defendants overstated activity on the Datavault Platform and failed to disclose adverse information about leadership affiliations, including alleged connections involving Edward Withrow III.
The complaint defines the Class Period as September 4, 2024 through October 30, 2025, inclusive. Investors who purchased or otherwise acquired Datavault AI Inc. securities during that period may fall within the proposed class, subject to later court rulings. The lawsuit seeks damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5.
The complaint states that Datavault AI common stock trades on the Nasdaq Capital Market under the ticker symbol DVLT. It also notes that before Datavault AI changed its name from WiSA Technologies, Inc., the company's common stock traded on Nasdaq under the ticker symbol WISA. The lawsuit concerns Datavault AI securities purchased or acquired during the alleged Class Period.
According to plaintiffs, Wolfpack Research published a short report on October 31, 2025 that challenged Datavault AI's public statements. The report allegedly called Datavault AI a "stock promotion" and claimed its press releases relied on promotional buzzwords and "empty claims." Wolfpack also allegedly questioned the value of the Burke, Scilex, and Nature's Miracle partnerships, the level of trading activity on the Datavault Platform, and the company's leadership affiliations.
The complaint states that Datavault AI's stock price fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025. Plaintiffs allege this decline followed publication of the Wolfpack Report and reflected the market's reaction to information that contradicted defendants' prior public statements. The complaint claims Class members suffered significant losses and damages as a result.
The defendants named in the complaint are Datavault AI Inc., Brett Moyer, Nathaniel T. Bradley, and Gary Williams. Moyer allegedly served as Chief Executive Officer until December 31, 2024, then transitioned to Chief Financial Officer. Bradley allegedly served as Chief Executive Officer from December 31, 2024 through the end of the Class Period. Williams allegedly served as Chief Accounting Officer until November 30, 2024.
The complaint focuses on Datavault AI's public statements about partnerships with Burke Products, Scilex Holding Company, and Nature's Miracle Holding Inc. Plaintiffs allege defendants overstated the economic value of these partnerships. The complaint cites Datavault AI's July 22, 2025 Burke announcement, September 25, 2025 Scilex investment announcement, and October 28, 2025 Nature's Miracle license announcement as challenged statements.
The Datavault AI lawsuit alleges the company overstated partnership value, platform activity, and business prospects. Plaintiffs claim defendants also failed to disclose adverse leadership-related information during the September 4, 2024 to October 30, 2025 Class Period.
Datavault AI stock fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025. The complaint links the decline to a Wolfpack Research short report issued that day.
Investors who purchased or otherwise acquired Datavault AI Inc. securities between September 4, 2024 and October 30, 2025, inclusive, may be included in the proposed class, subject to court approval.
The complaint discusses Datavault AI's announced partnerships with Burke Products, Scilex Holding Company, and Nature's Miracle Holding Inc. Plaintiffs allege defendants overstated the economic value of those arrangements.
The lead plaintiff deadline is October 5, 2026. The deadline applies only to investors seeking appointment as lead plaintiff. No action is required before the deadline to remain a potential class member.
Deadline
Oct 5, 2026