Investors File Class Action Against Datavault AI Over Fraud Allegations

The lawsuit, filed in the U.S. District Court for the Eastern District of Pennsylvania, represents investors who acquired Datavault AI securities between September 4, 2024, and October 30, 2025. Plaintiffs allege that the company, formerly known as WiSA Technologies, systematically overstated the value of corporate partnerships with firms such as Burke Products, Scilex Holding Company, and Nature's Miracle. According to the complaint, these agreements were presented as strategic breakthroughs while potentially lacking the economic substance claimed by the company.

Central to the allegations are undisclosed connections between company leadership and Edward Withrow III, a convicted felon previously involved in a pump-and-dump scheme. Furthermore, the suit highlights that CEO Nathaniel T. Bradley had been previously sanctioned by the SEC for making false statements during his tenure at Parallax Health Sciences. The claims gained momentum following a report by Wolfpack Research, which characterized the firm as a stock promotion scheme reliant on buzzwords rather than functional blockchain or data management operations. Following the report's release on October 31, 2025, Datavault AI shares dropped nearly 20 percent. Investors seeking to serve as lead plaintiff must contact the court by October 5, 2026.