Cases & Investigations
DataVault Investigation
Type: Investigations
Case Number: No. 2:26-cv-05548
Lead Plaintiff Deadline: 10/05/2026
Class Period: September 4, 2024 - October 30, 2025
Class Period End Date: 10/30/2025
Defendant(s): DataVault AI Inc. (“DataVault”)
Stock Symbol: NASDAQ: DVLT
Court: United States District Court for the Eastern District of Pennsylvania
The action is brought on behalf of investors who purchased or otherwise acquired DataVault securities between September 4, 2024 and October 30, 2025, inclusive. The deadline to seek appointment as lead plaintiff is October 5, 2026.
The case, Carla Aramouni v. DataVault AI Inc., et al., No. 2:26-cv-05548, is pending in the United States District Court for the Eastern District of Pennsylvania.
WHAT IS THE CASE ABOUT?
The lawsuit centers on DataVault’s statements concerning the economic value of its announced corporate partnerships, the level of activity on the Datavault Platform, and the Company’s leadership and affiliations.
The complaint alleges that defendants made materially false and misleading statements and/or failed to disclose that: DataVault had overstated the economic value to the Company of its corporate partnerships with, among others, Burke Products, Scilex Holding Company, and Nature’s Miracle Holding Inc.; DataVault had overstated the volume of trading activity on the Datavault Platform, which was in fact minimal; the Company had undisclosed connections to Edward Withrow III, an individual listed as an inventor alongside defendant Nathaniel T. Bradley on multiple Data Vault Holdings patents, who had a prior felony conviction for making false statements in connection with a pump-and-dump scheme; and as a result, defendants’ public statements concerning DataVault’s business and prospects were materially false and misleading at all relevant times.
According to the complaint, DataVault (formerly known as WiSA Technologies, Inc.) had, on September 4, 2024, announced its agreement to acquire the intellectual property of Data Vault Holdings Inc., including the Datavault Platform, for $210 million, and subsequently changed its name to Datavault AI on February 13, 2025. The complaint further alleges that, throughout the Class Period, DataVault promoted opportunities involving artificial intelligence, quantum computing, Web3, and data monetization while investors were not given an accurate picture of the economic value or operating activity underlying those initiatives, including partnerships announced with Burke Products (July 22, 2025), Scilex Holding Company (September 25, 2025), and Nature’s Miracle Holding Inc. (October 28, 2025).
WHAT HAPPENED?
On October 31, 2025, Wolfpack Research published a short report alleging, among other things, that DataVault was a “stock promotion” reliant on misleading press releases and “empty claims” concerning artificial intelligence, quantum computing, Web 3.0, and data monetization. The report alleged that DataVault’s announced partnerships could not deliver the economic upside defendants had claimed, that Burke’s contracts concerned only “run-of-the-mill equipment such as hoses, piping, fuses, and electrical connectors,” and that both Scilex and Nature’s Miracle lacked the resources to fulfill their purported commitments. The report also alleged that trading activity on DataVault’s blockchain marketplace was minimal and raised concerns about the Company’s leadership, including defendant Bradley’s past SEC charges and Company leadership’s alleged connections to Withrow, a convicted felon.
Following publication of the report, DataVault’s stock price fell $0.49 per share, or approximately 19.44%, from $2.30 per share on October 30, 2025 to close at $2.03 per share on October 31, 2025.
The lawsuit alleges that investors purchased DataVault securities at artificially inflated prices as a result of defendants’ materially false and misleading statements and omissions.
WHAT CAN DVLT INVESTORS DO?
If you purchased or acquired DataVault securities between September 4, 2024 and October 30, 2025 and suffered a loss, you may contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com to discuss your legal rights.
Investors wishing to seek appointment as lead plaintiff must file a motion with the Court no later than October 5, 2026. You do not need to serve as lead plaintiff to participate in any potential recovery.
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