Datavault AI faces shareholder lawsuit amid short-seller dispute

Datavault AI Inc. (NASDAQ: DVLT) has issued a statement addressing recently filed securities litigation against the company and certain of its officers, saying it intends to "vigorously defend" itself against the claims.

According to a statement from the company, some allegations in the shareholder lawsuit relate to subjects raised in an Oct. 31, 2024 short-seller report published by Wolfpack Research. Datavault AI and its Chief Executive Officer have filed separate litigation against Wolfpack Research and its founder, Dan David, alleging defamation, false light, tortious interference, and unjust enrichment stemming from that report.

"While we understand that the volume of legal notices and advertisements surrounding securities litigation can create concern among shareholders, our responsibility is to remain focused on the facts, the business and execution," said Nathaniel Bradley, Chief Executive Officer of Datavault AI.

The company stated it stands behind its public disclosures and does not plan to litigate the matters through public commentary, adding it will address allegations through the appropriate legal process.

Datavault AI said its operational priorities remain unchanged, including commercialization of its technology platform, expansion of its exchange infrastructure, scaling of SanQtum, integration of acquired assets, and converting contracted opportunities into revenue.

The company said it does not intend to comment further on the pending litigation except as required by applicable law.

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