Class Action Filed Against Datavault AI Inc. Over Alleged Misleading Practices
News related to:Datavault AI Inc · 2 min read
California, (Newsfile Corp. - September 21, 2026) - A class action lawsuit has been filed against Datavault AI Inc., a data sciences technology company, on behalf of investors who purchased or otherwise acquired its securities between September 4, 2024, and October 30, 2025. The lawsuit, brought by Robbins LLP, a shareholder rights law firm, alleges that the company misled investors regarding its business prospects.
According to the complaint, Datavault AI Inc. was previously known as WiSA Technologies, Inc. On September 4, 2024, WiSA announced it had agreed to acquire the intellectual property of Data Vault Holdings, Inc. The company intended to change its name to "Datavault AI Inc." and did so officially on February 13, 2025.
The lawsuit claims that Datavault AI Inc. had overstated the economic value of its corporate partnerships with Burke, Scilex, and Nature's Miracle. Additionally, the company was accused of inflating the volume of trading activity on its Datavault Platform, which was in fact minimal. The complaint also highlights the company's undisclosed connections with Withrow, a convicted felon, which, when revealed, would likely cause reputational harm.
On October 31, 2025, Wolfpack Research published a short report alleging that Datavault was a "stock promotion" relying on misleading press releases and "empty claims" concerning artificial intelligence, quantum computing, Web 3.0, and data monetization. The report questioned the activity on the company's blockchain marketplace, noting that it had virtually no trading activity. Wolfpack also raised concerns about the company's leadership and affiliations, including the alleged connection with a convicted felon.
As a result of the Wolfpack report, Datavault AI Inc.'s stock price dropped $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025.
Investors who purchased or otherwise acquired Datavault AI Inc. securities between September 4, 2024, and October 30, 2025, may be eligible to participate in the proposed securities class action. If you purchased DVLT shares during the Class Period and suffered losses, you may have rights under the federal securities laws.
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