Class Action Filed Against Datavault AI Inc. Over Alleged Securities Violations
On August 20, 2026, Pomerantz LLP announced the initiation of a class action lawsuit against Datavault AI Inc. and specific officers. This legal action, filed in the United States District Court for the Eastern District of Pennsylvania, carries the docket number 226-cv-05548. It represents a collective of individuals and entities, other than the defendants, who acquired Datavault AI securities during a specified timeline spanning from September 4, 2024, to October 30, 2025. The lawsuit primarily seeks to recover damages arising from the defendants' alleged breaches of federal securities laws, particularly under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, along with Rule 10b-5 issued thereunder.
Investors who purchased Datavault AI securities during the defined class period are encouraged to act promptly, as the deadline to request appointment as Lead Plaintiff is October 5, 2026. Interested parties can find more details by visiting Pomanzart’s website or can reach out directly to Danielle Peyton via the provided contact details for further discussion regarding this matter.
Datavault AI Inc. is reportedly engaged in the operation of data management platforms, including their notable Datavault Platform, which purportedly allows users to trade data that has been tokenized using blockchain technology. The company has positioned itself as a pioneer in creating strategic assets from data.
Formerly recognized as WiSA Technologies, Inc., Datavault AI made headlines when it announced, on September 4, 2024, its intention to acquire the intellectual property of Data Vault Holdings for $210 million. Alongside this acquisition, WiSA revealed plans to alter its name to Datavault and appoint Nathaniel T. Bradley as its new CEO. Allegations have surfaced post-appointment, indicating that Bradley previously faced SEC charges related to making false statements while serving as the Chief Technology Officer for another firm, Parallax Health Sciences.
Further complicating matters, it has come to public attention that Edward Withrow III, one of Datavault's inventors, holds a prior felony conviction related to a pump-and-dump scheme tied to Parallax Diagnostics, Inc. Despite these serious implications, the appointments went unmentioned in the organizational announcements.
Subsequent updates from the company included partnerships with entities like Burke Products and Scilex Holding Company, where Datavault AI claimed to deliver innovative solutions and even secured a strategic investment of $150 million for building a supercomputer. However, skepticism arose concerning the veracity of these claims and the actual trading activity on the Datavault Platform, which remained significantly low.
On October 31, 2025, the narrative faced a severe shift when Wolfpack Research published a critical report on Datavault AI. This report labeled the company’s operations as a potential stock promotion, filled with misleading press releases about their capabilities, including references to artificial intelligence and data monetization strategies that seemed overinflated. It raised questions about the asserted economic advantages of their partnerships and revealed a lack of authentic trading activity within the marketplace, fundamentally questioning the company’s credibility.
Following the publication of the Wolfpack Report, the stock price of Datavault AI tumbled significantly, closing at $2.03, a drop of approximately 19.44% in value, which further catalyzed the ongoing class action lawsuit initiated by Pomerantz LLP. This development illustrates a broader concern within the securities investment community regarding transparency and corporate accountability in the tech landscape.
Pomerantz LLP, renowned for its expertise in securities class actions, aims to champion the rights of investors who may have been misled by the corporate maneuvers and public statements made by Datavault AI and its leadership. Founded over 85 years ago by the influential legal figure Abraham L. Pomerantz, the firm has a longstanding commitment to battling corporate misconduct and protecting investors' interests, having secured billions in damages over its operational history. The constant evolution of the tech market emphasizes the need for vigilant oversight and ethical governance as implicated by this case.
Investors who purchased Datavault AI securities during the defined class period are encouraged to act promptly, as the deadline to request appointment as Lead Plaintiff is October 5, 2026. Interested parties can find more details by visiting Pomanzart’s website or can reach out directly to Danielle Peyton via the provided contact details for further discussion regarding this matter.
Datavault AI Inc. is reportedly engaged in the operation of data management platforms, including their notable Datavault Platform, which purportedly allows users to trade data that has been tokenized using blockchain technology. The company has positioned itself as a pioneer in creating strategic assets from data.
Formerly recognized as WiSA Technologies, Inc., Datavault AI made headlines when it announced, on September 4, 2024, its intention to acquire the intellectual property of Data Vault Holdings for $210 million. Alongside this acquisition, WiSA revealed plans to alter its name to Datavault and appoint Nathaniel T. Bradley as its new CEO. Allegations have surfaced post-appointment, indicating that Bradley previously faced SEC charges related to making false statements while serving as the Chief Technology Officer for another firm, Parallax Health Sciences.
Further complicating matters, it has come to public attention that Edward Withrow III, one of Datavault's inventors, holds a prior felony conviction related to a pump-and-dump scheme tied to Parallax Diagnostics, Inc. Despite these serious implications, the appointments went unmentioned in the organizational announcements.
Subsequent updates from the company included partnerships with entities like Burke Products and Scilex Holding Company, where Datavault AI claimed to deliver innovative solutions and even secured a strategic investment of $150 million for building a supercomputer. However, skepticism arose concerning the veracity of these claims and the actual trading activity on the Datavault Platform, which remained significantly low.
On October 31, 2025, the narrative faced a severe shift when Wolfpack Research published a critical report on Datavault AI. This report labeled the company’s operations as a potential stock promotion, filled with misleading press releases about their capabilities, including references to artificial intelligence and data monetization strategies that seemed overinflated. It raised questions about the asserted economic advantages of their partnerships and revealed a lack of authentic trading activity within the marketplace, fundamentally questioning the company’s credibility.
Following the publication of the Wolfpack Report, the stock price of Datavault AI tumbled significantly, closing at $2.03, a drop of approximately 19.44% in value, which further catalyzed the ongoing class action lawsuit initiated by Pomerantz LLP. This development illustrates a broader concern within the securities investment community regarding transparency and corporate accountability in the tech landscape.
Pomerantz LLP, renowned for its expertise in securities class actions, aims to champion the rights of investors who may have been misled by the corporate maneuvers and public statements made by Datavault AI and its leadership. Founded over 85 years ago by the influential legal figure Abraham L. Pomerantz, the firm has a longstanding commitment to battling corporate misconduct and protecting investors' interests, having secured billions in damages over its operational history. The constant evolution of the tech market emphasizes the need for vigilant oversight and ethical governance as implicated by this case.
Topics Financial Services & Investing）
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