Lost Money on Veritone, Inc. (VERI)? Join Class Action Suit Seeking Recovery - Contact SueWallSt

Veritone's own SEC filings acknowledged material weaknesses in internal controls, yet the Company simultaneously assured investors these weaknesses "did not result in any identified material misstatements" — months before a forced restatement proved otherwise.

NEW YORK, June 11, 2026 /PRNewswire/ -- SueWallSt notifies investors in Veritone, Inc. (NASDAQ: VERI) that a class action has been filed on behalf of shareholders who purchased securities between October 14, 2025 and April 14, 2026. Find out if you qualify to recover losses from Veritone's restatement. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

VERI shares lost $0.77 per share (29.5%) on March 27, 2026, followed by additional declines of 9.14% and 8.3% on successive corrective disclosures that culminated in a full restatement of Q3 2025 financial statements. The lead plaintiff deadline is July 20, 2026.

The Reassurance That Preceded the Restatement

The lawsuit contends that Veritone's Q3 2025 Form 10-Q, filed November 7, 2025, contained a striking contradiction. The filing disclosed multiple pre-existing material weaknesses in internal controls over financial reporting, including deficiencies in the consolidation process, foreign exchange accounting, and the information and communication process used to ensure reliability of financial reporting data. Yet in the same filing, the Company stated these weaknesses "did not result in any identified material misstatements to the financial statements" and that management was "committed to maintaining a strong control environment."

Five months later, on April 14, 2026, Veritone disclosed that its Q3 2025 financials "should no longer be relied upon" due to precisely the type of errors those internal controls were supposed to prevent.

What the Company Disclosed vs. What Was Actually Happening

• The 3Q25 10-Q disclosed material weaknesses dating back to fiscal years 2022 and 2023 that remained unremediated as of September 30, 2025
• Management simultaneously claimed these weaknesses had not caused material misstatements
• The Company reported $29.1 million in Q3 2025 revenue, which was overstated by approximately $2.2 million (8% of quarterly revenue)
• Accounts receivable were overstated by $0.9 million, and accumulated other comprehensive income was overstated by $1.5 million (246% of reported amount)
• Revenue was misclassified in transactions where Veritone acted as an agent, not a principal, under ASC 606
• The Company had been evaluating a $13.0 million non-monetary software transaction with a fair value range as wide as $0.4 million to $11.3 million

Why Generic Remediation Language May Not Shield Defendants

As alleged in the securities action, Veritone's disclosures about its control environment created a misleading impression. The Company identified material weaknesses but paired each disclosure with language suggesting the weaknesses were contained and not producing errors. The pleading asserts that the subsequent restatement exposed the inadequacy of those assurances. When a company acknowledges broken controls while simultaneously certifying that its financial statements are accurate, investors are left without a meaningful basis to assess risk.

Submit your information to recover losses in the Veritone securities action or call (888) SueWallSt.

"The timeline raises important questions about when certain risks were known internally versus when they were disclosed to the investing public. When a company's own filings identify control deficiencies but assure investors no misstatements resulted, and a restatement later proves otherwise, shareholders deserve answers." — Joseph E. Levi, Esq.

ABOUT THE FIRM — SueWallSt represents investors in securities class actions nationwide, with a track record of recovering hundreds of millions for shareholders harmed by alleged corporate concealment. Ranked among ISS Top 50 for seven consecutive years. Lead plaintiff applications must be submitted by July 20, 2026.

Frequently Asked Questions About the VERI Lawsuit

Q: When did Veritone allegedly mislead investors? A: The class period runs from October 14, 2025 to April 14, 2026. The alleged fraud was revealed through a series of corrective disclosures beginning March 26, 2026, culminating in the Company's April 14, 2026 announcement that Q3 2025 financial statements should no longer be relied upon.

Q: What specific misstatements does the VERI lawsuit allege? A: The complaint alleges Veritone made materially false or misleading statements regarding its revenue recognition, internal controls, and the accuracy of its reported financial results during the class period. When the true state was revealed through the restatement disclosure, the stock price declined sharply.

Q: What do VERI investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt for a free, no-obligation evaluation at [email protected] or (888) SueWallSt. No immediate action is required to remain eligible as a class member.

Q: What if I already sold my VERI shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still 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. You submit a claim form to receive your portion of recovery.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.

CONTACT:

SueWallSt

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (888) SueWallSt

Fax: (212) 363-7171

SOURCE SueWallSt.com