Pomerantz Law Firm Initiates Class Action Lawsuit Against Datavault AI Inc.

Pomerantz Law Firm Launches Class Action Against Datavault AI Inc.

On August 27, 2026, Pomerantz LLP announced that they have filed a class action lawsuit against Datavault AI Inc., also known as DVLT on NASDAQ, along with several of its officers. The case, recorded in the United States District Court for the Eastern District of Pennsylvania, aims to represent individuals or entities that acquired or purchased Datavault AI securities between September 4, 2024, and October 30, 2025, referred to as the "Class Period." This legal action is primarily motivated by the alleged violations of federal securities laws perpetrated by the company and certain of its executives.

The class action seeks recompense for damages believed to be caused by these violations, as outlined under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and related regulatory guidelines. Investors who bought Datavault AI securities during the Class Period have until October 5, 2026, to file for an appointment as Lead Plaintiff in the case.

According to Pomerantz LLP, Datavault AI operates in the realm of data management, leveraging a platform where users can buy and sell data that has been tokenized via blockchain technology. The company asserts that the Datavault Platform enables organizations to transform data into valuable assets. However, there are concerns arising from a series of misleading and potentially deceptive statements made by the company's executives regarding the actual capabilities and partnerships of Datavault AI.

Previously known as WiSA Technologies, Inc., Datavault AI generated substantial attention when it agreed to acquire the intellectual property of Data Vault Holdings Inc. for the sum of $210 million in a press release dated September 4, 2024. This unveiling also detailed the forthcoming name change to Datavault Inc. and the appointment of Defendant Nathaniel T. Bradley as CEO. Notably absent from this announcement was any mention of Bradley’s prior legal troubles involving allegations from the U.S. Securities and Exchange Commission concerning false statements made during his tenure as Chief Technology Officer for Parallax Health Sciences, Inc.

Additionally, several corporate partnerships were announced during the Class Period that painted a promising picture for Datavault AI. For example, collaborations with entities like Burke Products and Scilex Holdings were announced, implying a bright future filled with operational synergies and promising revenues. Yet these claims were soon met with skepticism.

The situation escalated when, on October 31, 2025, Wolfpack Research released a short report on Datavault AI that raised alarm about the company's representations. The report labeled Datavault AI's operations as a "stock promotion," casting doubt on its credibility and competence. It highlighted misleading press releases filled with jargon that did not correspond with the company's actual business practices. The report contested the claimed economic benefits from partnerships and noted concerns over the blockchain marketplace's trading activity, suggesting that it was virtually nonexistent.

Following the publication of the Wolfpack Report, Datavault AI’s stock plummeted by nearly 19% in a single session, raising serious alarms among its investors. This downturn betrayed the inflated expectations that had been created through the company's prior communications, which are now appearing increasingly dubious in light of new revelations.

Pomerantz LLP, recognized for its strong track record in protecting the rights of investors, is leading this class action to advocate for those adversely affected by what they allege to be fraudulent behaviors and misrepresentations by Datavault AI. Interested parties can learn more about joining this class action lawsuit by reaching out to the law firm through their official website or contacting one of their representatives directly.

As the case unfolds, it represents an essential reminder of the critical importance of transparency and honesty in the corporate sector, particularly for companies navigating the complex landscape of securities and investments. Investors who believe they may have been harmed by Datavault AI's actions are encouraged to take action before the October deadline for filing claims.