Los Angeles – September 11, 2026 -- Schall, Brown & Schwartz LLP (SBS) has filed a class action lawsuit against Datavault AI Inc. (NASDAQ: DVLT), alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. The suit covers investors who purchased DVLT shares between September 4, 2024 and October 30, 2025.
Complaint alleges Datavault overstated AI value in corporate partnerships
The complaint claims Datavault made false and misleading statements about the value its AI technology delivered to corporate partners, including Nature's Miracle. It further alleges the Company misled investors about the actual trading volume on its platform.
Undisclosed ties to a convicted felon triggered reputational damage
According to the filing, Datavault's reputation suffered when its connections to a convicted felon became public, contributing to the alleged materially misleading nature of its public statements throughout the class period.
Lead plaintiff deadline set for October 5, 2026
SBS is soliciting shareholders who suffered losses during the class period to consider lead plaintiff appointments ahead of the October 5, 2026 deadline. The firm noted that appointment as lead plaintiff is not a prerequisite for participating in any potential recovery, and the class has not yet been certified.