Datavault AI Addresses Shareholder Lawsuit and Short-Seller Dispute
Datavault AI Inc. (NASDAQ:DVLT) has responded to a securities lawsuit filed by shareholders, stating its intent to 'vigorously defend' against the claims. The company noted that some allegations in the litigation relate to an October 31, 2024 report from short seller Wolfpack Research. In addition to defending itself against shareholder claims, Datavault AI and its CEO have filed their own lawsuit against Wolfpack Research and founder Dan David for defamation, false light, tortious interference, and unjust enrichment. The company emphasized that it stands by its public disclosures and will address the allegations through legal channels rather than public commentary. Datavault AI reiterated that its operational priorities remain unchanged, including commercializing its technology platform, expanding infrastructure, scaling SanQtum, integrating acquisitions, and converting contracted opportunities into revenue.
Tickers: $DVLT
Topics: legal defense securities lawsuit short seller dispute