DVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Datavault AI Inc. Securities Lawsuit - Contact Levi & Korsinsky

Executive Accountability: Gary Williams, Datavault AI's former Chief Accounting Officer, is named as a defendant in a securities class action alleging the Company overstated partnership values and platform trading activity while insiders sold shares for more than $73.8 million.

NEW YORK, Aug. 26, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors that Gary Williams, who served as Chief Accounting Officer of Datavault AI Inc. (NASDAQ: DVLT) until November 30, 2024, is named as an individual defendant in a securities class action brought on behalf of purchasers of DVLT securities between September 4, 2024 and October 30, 2025. Find out if you may qualify to recover losses or call (212) 363-7500. You may also contact Joseph E. Levi, Esq. at [email protected].

DVLT shares fell $0.49 per share, or 19.44%, to close at $2.03 on October 31, 2025, after a short-seller report questioned the Company's announced partnerships and the activity on its blockchain data exchange. The complaint alleges the Individual Defendants sold 38,065,752 shares during the Class Period for proceeds exceeding $73.8 million.

Gary Williams's Role During the Class Period

Williams held the Chief Accounting Officer position from before the Class Period began through November 30, 2024, a window that covers the September 4, 2024 announcement of the $210 million acquisition of Data Vault Holdings intellectual property and the November 15, 2024 quarterly conference call. The complaint identifies him among the officers who possessed the power and authority to control the contents of Datavault AI's SEC filings, press releases, and other market communications.

Gary Williams's Alleged Role

• Served as Chief Accounting Officer during the opening months of the Class Period, including the $210 million intellectual property transaction announcement
• As named in the action, had access to material information not available to the investing public and the opportunity to prevent or correct allegedly misleading disclosures
• Named among defendants who allegedly sold DVLT stock during the Class Period; Williams sold 890 shares for approximately $1,504 in proceeds
• Alleged to be liable for statements that overstated the economic value of announced corporate partnerships and the volume of trading on the Datavault Platform
• Named in claims under Section 10(b), Rule 10b-5, and Section 20(a) of the Securities Exchange Act of 1934

Section 20(a) Context for Gary Williams

The action asserts that senior accounting and finance officers who oversee the preparation of public filings may be held personally responsible for material misstatements those filings allegedly contained. Practically, that means investors may pursue recovery from individuals, not only the corporate entity.

"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. The complaint alleges that Datavault AI's public statements about partnership value and platform trading activity did not reflect what was actually occurring inside the business." -- Joseph E. Levi, Esq.

LEAD PLAINTIFF DEADLINE: October 5, 2026

Submit your information here or call (212) 363-7500.

WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until October 5, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the DVLT Lawsuit

Q: Who are the defendants named in the DVLT lawsuit? A: The complaint names Datavault AI Inc. and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley, including former Chief Accounting Officer Gary Williams.

Q: What court was the DVLT class action filed in? A: The case was filed in the United States District Court for the Eastern District of Pennsylvania, governed by the Private Securities Litigation Reform Act of 1995.

Q: How much did DVLT stock drop? A: Shares fell approximately 19.44%, a decline of $0.49 per share, to close at $2.03 after a short-seller report questioned the Company's announced partnerships and alleged that trading activity on the Datavault Platform was minimal, if not non-existent. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What documents do I need to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my DVLT shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.

CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
[email protected]\
Tel: (212) 363-7500\
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP