Overview
- Pomerantz LLP filed a securities class action in the U.S. District Court for the Eastern District of Pennsylvania (docket 2:26‑cv‑05548) on behalf of investors who bought Datavault AI stock during the period from September 4, 2024 through October 30, 2025.
- The complaint says Datavault overstated the economic value of announced partnerships with Burke Products, Scilex Holding Company and Nature’s Miracle, citing claims such as a reported $150 million strategic investment from Scilex and a $2 million license plus 35% royalty from Nature’s Miracle.
- The suit also alleges the company exaggerated trading volume on its blockchain Datavault Platform and that a Wolfpack Research short report on October 31, 2025 exposed the discrepancies and triggered about a 19% one‑day share decline.
- Plaintiffs point to undisclosed leadership risks, noting CEO Nathaniel T. Bradley’s prior SEC charges and inventor Edward Withrow III’s past felony conviction and say those ties created reputational harm that was not disclosed to investors.
- Multiple plaintiff firms are soliciting investors and preparing competing motions to be named lead plaintiff, and investors who want to move for lead status must do so by October 5, 2026, with the chosen lead plaintiff deciding litigation strategy and counsel.