The Rosen Law Firm and other legal groups are urging Datavault AI Inc. (NASDAQ: DVLT) investors to secure counsel ahead of the October 5, 2026, deadline for lead plaintiff status in a pending securities class action. The lawsuit alleges the company made materially false statements regarding partnership values and platform trading volume between September 4, 2024, and October 30, 2025.

The class action, filed in the United States District Court for the Eastern District of Pennsylvania, covers the period from September 4, 2024, to October 30, 2025. Investors who purchased Datavault AI securities during this window may be entitled to compensation under a contingency fee arrangement. The legal coalition includes Robbins LLP, Glancy Prongay Wolke & Rotter LLP, the Law Offices of Howard G. Smith, Levi & Korsinsky LLP, Bragar Eagel & Squire, P.C., The Law Offices of Frank R. Cruz, and The Rosen Law Firm.

Core Allegations and Financial Discrepancies

The lawsuit alleges that Datavault AI and certain officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 by overstating the economic value of partnerships with Burke Products, Scilex Holding Company, and Nature’s Miracle Holding Inc. Plaintiffs assert the company exaggerated trading volume on its Datavault Platform and concealed connections between leadership and Edward Withrow III, a convicted felon.

A central allegation concerns the Datavault Platform, described as a flagship property acquired in a $210 million intellectual property transaction. While the company claimed a 30% cut of each trade, plaintiffs allege trading activity was minimal. A Wolfpack Research report published on October 31, 2025, stated that trading activity appeared to be "minimal, if not non-existent," consisting largely of low-value tokens.

Chronology of Material Events

The complaint outlines a sequence of announcements that plaintiffs argue misled investors about the company’s commercial substance:

• September 4, 2024: Announcement of a $210 million Data Vault Holdings IP acquisition. The complaint alleges this announcement omitted prior SEC charges against the incoming chief executive and his patent co-inventor’s felony conviction for false statements tied to a pump and dump scheme.
• February 13, 2025: Company name changed from WiSA Technologies to Datavault AI.
• July 9, 2025: A $250 million shelf registration statement declared effective by the SEC.
• July 22, 2025: Burke Products partnership announced as delivering 2025 revenues from subcontracted existing contracts, citing a U.S. defense budget expected to surpass $900 billion.
• September 25, 2025: A $150 million strategic investment from Scilex Holding Company announced, structured in tranches of $8,067,000 and $141,933,000.
• October 28, 2025: Nature’s Miracle license announced with a $2 million non-refundable fee and a 35 percent royalty.
• October 31, 2025: Wolfpack Research report published; shares closed at $2.03.

Leadership Disclosure Allegations

New filings emphasize allegations that management omitted material risks regarding leadership background. The lawsuit asserts that when the company announced its incoming chief executive in September 2024, management touted an "exceptional track record" while omitting that the individual had previously faced SEC charges for making false statements as an officer of a health sciences issuer. Those charges were resolved through a $40,000 fine and a three-year ban from participating in penny stock offerings.

Additionally, the complaint alleges undisclosed affiliations in the patent portfolio. An individual listed as a co-inventor alongside company leadership on multiple acquired patents had previously pleaded guilty to making false statements in connection with a pump and dump scheme. According to the complaint, Datavault failed to disclose this affiliation to investors.

Counsel Selection and Firm Track Record

Robbins LLP highlighted its role in shareholder rights litigation, noting it has helped restore more than $1 billion in value to shareholders. Attorney Aaron Dumas, Jr., handles the case for Robbins LLP, while Charles Linehan, Esq., leads the effort for Glancy Prongay Wolke & Rotter LLP. Both firms represent investors on a contingency fee basis.

Levi & Korsinsky LLP, led by Joseph E. Levi, Esq., highlighted its status as a Top 50 securities litigation firm by ISS for seven consecutive years. The firm noted that institutions with the largest documented losses are typically best positioned for lead plaintiff consideration. Joseph E. Levi can be contacted at jlevi@levikorsinsky.com or (212) 363-7500.

The Law Offices of Frank R. Cruz, based in Los Angeles, also reminded investors of the upcoming deadline. Frank R. Cruz can be contacted at 310-914-5007 or via email at info@frankcruzlaw.com .

The Rosen Law Firm, led by Phillip Kim, Esq., encouraged investors with losses exceeding $100,000 to contact the firm. Rosen Law emphasized its global practice in securities class actions and shareholder derivative litigation, noting it was ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017 and has been ranked in the top 4 each year since 2013. The firm recovered over $438 million for investors in 2019 alone. Founding partner Laurence Rosen was named a Titan of Plaintiffs' Bar by law360 in 2020. Investors are advised to select qualified counsel with a track record of success, as some firms issuing notices may merely refer clients rather than litigate cases.

Insider Activity and Market Impact

According to the complaint, insiders sold 38,065,752 shares worth over $73.8 million during the Class Period. Following the Wolfpack Research report, Datavault AI’s stock price fell $0.49 per share, or 19.44%, to close at $2.03 per share on October 31, 2025. Investors are reminded that no class has been certified and they are not represented by counsel unless they retain one.

Datavault AI Inc. (NASDAQ: DVLT), an Artificial Intelligence Platform company providing data monetization, credentialing, digital engagement, real-world asset tokenization and spatial audio technologies, announced that it has signed a definitive agreement to acquire WDT, LLC, the parent company of BankWyse. This acquisition adds the final piece to Datavault AI’s data monetization ecosystem. The transaction is subject to regulatory approval and customary closing conditions.

BankWyse operates under a charter granted by the state of Wyoming, integrating qualified custody with a commercial banking platform for interoperability across digital assets and fiat currencies. As a fully-reserved depository institution, fiat deposits held by BankWyse are not required to be insured by the FDIC.

Transaction Details

Datavault AI Inc., DVLT Merger Sub LLC, a wholly owned subsidiary of the Company, and WDT, LLC, entered into an Agreement and Plan of Merger dated August 19, 2026. Pursuant to the provisions of the Merger Agreement, on the closing date, WDT will merge with and into Merger Sub, the separate corporate existence of WDT will cease and Merger Sub will continue as the surviving company and a wholly owned subsidiary of the Company.

The Company will pay to WDT equity holders aggregate consideration valued at approximately $22.0 million, consisting of approximately $14.66 million in shares of the Company’s common stock, par value $0.0001 per share, and $7.34 million in cash, subject to adjustment as set forth in the Merger Agreement.

The Merger Agreement also provides for contingent additional consideration of up to $10.0 million. Subject to the terms and conditions of the Merger Agreement, the Company will be required to pay:

• $5.0 million, payable 50% in cash and 50% in shares of Common Stock, upon BankWyse obtaining regulatory authorization to commence customer-facing operations under its Wyoming SPDI charter.
• An additional $5.0 million, payable 50% in cash and 50% in shares of Common Stock, upon the achievement of specified revenue targets.

Strategic Integration

The acquisition adds custodial, commercial banking, and other services to Datavault AI's existing suite of technologies. Datavault AI plans to leverage this capability to offer an end-to-end data monetization ecosystem. Customers will bring data and Real-World Assets (RWA) to the platform for valuation and tokenization. These assets will be held in custody and sold on exchanges when market conditions are favorable.

Exchange customers will be offered opportunities to buy and sell these tokenized assets and utilize a full suite of banking services. This structure aims to eliminate friction and fragmentation prevalent in the current market.

Operational Divisions

Datavault AI operates through two synergistic divisions:

• Data Science: Includes patented Data Vault®, DataValue®, and DataScore® technologies, alongside cybersecurity, tokenization, and exchange capabilities.
• Acoustic Science: Comprises WiSA®, ADIO®, and related spatial audio and data-over-sound technologies, as well as events and experiential media businesses operated under the Event Citadel brand and API Media Innovations Inc.

What the Numbers Show

While specific financial terms of the acquisition were not disclosed in prior reports, the integration creates a closed-loop ecosystem where asset valuation, tokenization, custody, and exchange occur within a single compliant infrastructure. This vertical integration allows Datavault AI to capture value at multiple stages of the digital asset lifecycle, from identification through monetization. The structured payment plan, linking significant portions of the consideration to regulatory approvals and revenue targets, aligns the financial outlay with the operational maturity of the acquired entity.