Robbins LLP Urges DLVT Stockholders to Contact the Firm for Information About the Class Action Lawsuit Against Datavault AI Inc.
SAN DIEGO, Sept. 4, 2026 /PRNewswire/ -- Shareholder rights law firm Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Datavault AI Inc. (NASDAQ: DVLT) securities between September 4, 2024 and October 30, 2025. Datavault AI is a data sciences technology company, owns and operates data management platforms with high computing capabilities in North America, Asia Pacific, Europe, and internationally.
Datavault was previously known as WiSA Technologies, Inc. On September 4, 2024, WiSA announced it had agreed to acquire the intellectual property of Data Vault Holdings, Inc. WiSA further announced that upon closing the acquisition, it intended to change its name to "Datavault AI Inc." The Company officially changed its name on February 13, 2025.
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Why Was Datavault Sued?
The complaint alleges that defendants misled investors regarding its business prospects and failed to disclose that:
- defendants had overstated the economic value to Datavault AI of its various corporate partnerships with, inter alia, Burke, Scilex, and Nature's Miracle;
- defendants had overstated the volume of trading activity on the Datavault Platform, which was in fact minimal;
- the Company's undisclosed connections with Withrow, a convicted felon, when revealed, would cause Datavault AI to incur reputational harm; and
- as a result, defendants' public statements were materially false and misleading at all relevant times.
Why Did Datavault AI's Stock Drop?
Plaintiff alleges that on October 31, 2025, Wolfpack Research published a short report concerning Datavault AI Inc. The report alleged, among other things, that Datavault was a "stock promotion" that relied on misleading press releases and "empty claims" concerning artificial intelligence, quantum computing, Web 3.0, and data monetization.
Wolfpack further alleged that Datavault's press releases were filled with promotional buzzwords that did not reflect the Company's actual business operations. The report also questioned the activity on the Company's blockchain marketplace, alleging that Datavault's platform had virtually no trading activity. In addition, Wolfpack raised concerns regarding Datavault's leadership and affiliations, including alleged connections involving a convicted felon.
On this news, Datavault AI's stock price fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025.
Who May Be Eligible to Participate in the DVLT Class Action?
Investors who purchased or otherwise acquired DVLT securities between September 4, 2024 and October 30, 2025, may be eligible to participate in the proposed securities class action. If you purchased DVLT shares during the Class Period and suffered losses, you may have rights under the federal securities laws.
What Is a Lead Plaintiff?
The lead plaintiff is a representative investor appointed by the court to act on behalf of other members of the proposed class and help direct the litigation. Investors do not have to become lead plaintiff to potentially participate in any recovery obtained through the litigation.
Shareholders who wish to serve as lead plaintiff must submit their papers to the court by October 5, 2026.
Does it Cost Anything to Participate?
No. Robbins LLP represents investors on a contingency fee basis.
Contact Robbins LLP
Investors seeking additional information about the Datavault AI Inc. securities class action may submit an inquiry, email attorney Aaron Dumas, Jr., or call (800) 350-6003.
About Robbins LLP
A recognized leader in shareholder rights litigation, Robbins LLP has helped restore more than $1 billion in value to shareholders and secured some of the largest recoveries in shareholder derivative litigation history.
"Behind everything we do is the belief that companies should be governed responsibly, fiduciaries should be held accountable, and shareholders deserve transparency and fairness," said Brian J. Robbins, Founding Partner of Robbins LLP.
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SOURCE Robbins LLP
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