Datavault AI (DVLT) Overstated Partnerships Case

Attorneys review the case details to decide whether to proceed with a class action.

E.D. Pennsylvania

Court

2:26-cv-05548

Case number

08/04/2024

Class period Start

10/30/2025

Class period End

10/05/2026

Lead Plaintiff motion deadline

$DVLT investors filed a claim against Datavault AI (formerly WiSA Technologies), its CEO, and its former CFO and Chief Accounting Officer for overstating the economic value of its corporate partnerships and the trading activity on its blockchain data marketplace, while concealing leadership's connections to a convicted felon.
After a short-seller report exposed Datavault AI's touted partnerships as economically hollow and its "Datavault Platform" as having virtually no real trading activity, the company's stock fell 19.44%.
$DVLT investors can join this case to be notified about potential recovery.
Case Details:

Beginning in September 2024, WiSA Technologies (later renamed Datavault AI) touted a series of corporate initiatives centered on its "Datavault Platform," a blockchain marketplace it claimed enabled organizations to buy and sell tokenized data. Throughout the Class Period, the company and its CEO, Nathaniel T. Bradley, repeatedly emphasized the platform's central role in the business and highlighted a string of partnerships, including deals with defense contractor Burke Products, Scilex Holding Company, and Nature's Miracle Holding, which the company said would deliver a $150 million strategic investment, government contract revenue, and multi-million-dollar licensing fees.

Investors allege the company failed to disclose that these partnerships could not deliver the economic upside claimed, that trading activity on the Datavault Platform was minimal to non-existent, and that Bradley had a prior SEC settlement for making false statements at a previous company and undisclosed patent ties to a co-inventor with a felony conviction for a pump-and-dump scheme.

On October 31, 2025, Wolfpack Research published a short report alleging that Datavault AI was a "stock promotion" built on misleading press releases: Burke Products had never been awarded more than $4.5 million in contracts in any year, its work involved "run-of-the-mill equipment such as hoses, piping, fuses, and electrical connectors"; Scilex had a market cap below the $150 million investment it supposedly committed; Nature's Miracle reported only $9,511 in cash before agreeing to a $2 million license fee; and the Datavault Platform itself showed largely inactive listings, including novelty items rather than genuine data transactions. 

On this news, Datavault AI's stock fell $0.49 per share, or 19.44%, to close at $2.03.

Based on these events, $DVLT investors filed a claim against Datavault AI, alleging the company:
Overstated the economic value of its corporate partnerships with Burke, Scilex, and Nature's Miracle.
Overstated the level of trading activity on its Datavault Platform.
Failed to disclose leadership's undisclosed connections to a convicted felon and past SEC charges.
Investors argue Datavault AI misled the market about the substance of its business partnerships and platform activity, causing losses when a short-seller report revealed the truth and the stock declined.

Case Type

US Securities Class Action

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

10/31/2025

Filing date

08/05/2026

Lead Plaintiff Deadline

10/05/2026