Pomerantz Law Firm Files Class Action Against Datavault AI
The Pomerantz LLP law firm has filed a securities class action lawsuit against Datavault AI Inc. and certain of its officers. The complaint alleges the company and its officials made materially false and misleading statements regarding its business and partnerships.
Pomerantz LLP has filed a class action lawsuit against Datavault AI Inc. and certain of its officers. The lawsuit, filed in the United States District Court for the Eastern District of Pennsylvania, covers Datavault AI securities purchased or acquired between September 4, 2024, and October 30, 2025.
The complaint alleges that Datavault AI and its management made materially false and misleading statements about the company's business operations and partnerships. Specifically, the company is accused of overstating the economic value of several corporate partnerships, including agreements with Burke Products, Scilex, and Nature's Miracle. It also claims that information regarding trading volume on the Datavault Platform and the backgrounds of its executives, including undisclosed connections to convicted felons, was misleading.
Datavault AI, formerly WiSA Technologies, Inc., announced in September 2024 its agreement to acquire intellectual property from Data Vault Holdings Inc., including the Datavault Platform, for $210 million. With this acquisition, the company intended to change its name and appoint Nathaniel T. Bradley as CEO. The lawsuit raises questions about the company's failure to disclose previous SEC charges against Bradley and felony convictions of another executive, Edward Withrow III.
According to the lawsuit, these alleged misstatements caused damages to investors. Investors who purchased or acquired Datavault AI securities during the specified class period are urged to seek court appointment as lead plaintiff by October 31, 2026.