Veritone Class Action Lawsuit – VERI

The filed complaint alleges that Veritone, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company inaccurately recorded and/or misclassified certain revenue and costs; (2) as a result, the Company overstated its revenue, assets, accounts receivable, royalties and other comprehensive income; (3) Veritone maintained deficient internal controls over accounting and financial reporting; (4) as a result of the foregoing, the Company would be forced to restate certain of its financial statements, and (5) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.