Investors in Datavault AI have until Oct 5, 2026, to seek lead plaintiff role in securities class action lawsuit
News provided byDatavault AI Inc · 3 min read
New York, New York, Faruqi & Faruqi, LLP, a leading national securities law firm, has reminded investors who purchased Datavault AI Inc. (NASDAQ: DVLT) securities between September 4, 2024, and October 30, 2025, of the October 5, 2026, deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the company.
The lawsuit, which was filed by Faruqi & Faruqi, alleges that Datavault AI and its executives violated federal securities laws by making false and misleading statements and failing to disclose key information. Specifically, the complaint states that the company and its executives overstated the economic value of Datavault AI’s corporate partnerships, including those with Burke, Scilex, and Nature's Miracle. Additionally, the lawsuit claims that the company falsely reported high trading activity on the Datavault Platform, when in fact the volume was minimal. The complaint also mentions that the company concealed its connections with Withrow, a convicted felon, which would have caused reputational harm if revealed.
On October 31, 2025, Wolfpack Research published a short report alleging that Datavault AI was a "stock promotion" based on misleading press releases and "empty claims" about artificial intelligence, quantum computing, Web 3.0, and data monetization. This report followed by a significant drop in Datavault AI’s stock price, which fell $0.49 per share, or 19.44%, to close at $2.03 per share on the same day.
Faruqi & Faruqi is encouraging investors who may have suffered losses to contact partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) to discuss their legal rights and potential claims. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995.
Any member of the putative class may move the court to serve as lead plaintiff through counsel of their choice. Those who do not seek appointment as lead plaintiff will still be represented by lead counsel and may be entitled to participate in any settlement or judgment obtained.
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Frequently Asked Questions (FAQ) for Investors Regarding the Datavault AI Securities Class Action Lawsuit:
- What is the Datavault AI securities fraud lawsuit about? Faruqi & Faruqi, LLP has filed a securities class action lawsuit against Datavault AI Inc. (NASDAQ: DVLT) and certain of its officers and directors, alleging that the company made materially false and misleading statements during the Class Period. The complaint states that the company overstated the economic value of its corporate partnerships and trading activity on the Datavault Platform, and concealed its connections to a convicted felon, Withrow.
- Who may be eligible to participate in the lawsuit? Investors who purchased or otherwise acquired Datavault AI Inc. (NASDAQ: DVLT) securities on the NASDAQ exchange between September 4, 2024, and October 30, 2025, inclusive, may be eligible to participate. Any qualifying class member may be entitled to share in any recovery that may be obtained.
- What is a lead plaintiff, and how can I seek appointment? A lead plaintiff is a court-appointed representative who serves on behalf of all class members and plays an active role in directing the litigation. Any investor who purchased Datavault AI securities during the Class Period may move the court for appointment as lead plaintiff. The deadline to file a motion for appointment as lead plaintiff is October 5, 2026. Participation in the lawsuit is not contingent on seeking lead plaintiff status.
- What should investors do if they purchased Datavault AI stock during the Class Period? Investors who purchased Datavault AI securities between September 4, 2024, and October 30, 2025, are encouraged to review their brokerage and trading records. It is advisable to preserve all documentation related to those purchases and evaluate their legal options in light of the October 5, 2026, lead plaintiff deadline.
- Why should investors contact Faruqi & Faruqi, LLP? Faruqi & Faruqi, LLP has a long history of representing investors in securities litigation and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Datavault AI securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.