SBS says Datavault AI investors may seek lead-plaintiff status in securities case

By Atlas Watchline Staff · Legal · September 3, 2026

Schall, Brown & Schwartz says investors who bought Datavault AI shares during a stated class period may contact the firm about lead-plaintiff status in an ongoing securities class action.

Schall, Brown & Schwartz LLP said investors who bought Datavault AI Inc. shares between Sept. 4, 2024, and Oct. 30, 2025, may seek lead-plaintiff status in an ongoing securities class action.

The Los Angeles firm said the case alleges Datavault AI, which trades on Nasdaq under DVLT, made false and misleading statements to the market. The release says the complaint centers on claims that the company overstated the value its AI brought to corporate partnerships, including with Nature's Miracle, misled investors about the volume of trading activity on its platform, and suffered reputational harm after ties to a convicted felon were revealed.

According to the release, lead-plaintiff appointments can help shape how a securities class action proceeds, although SBS said appointment is not required for a shareholder to participate in any recovery. The class has not yet been certified, the release said.

According to the attorney-advertising release dated Sept. 3, 2026, the lawsuit alleges violations of Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. SBS said the company’s public statements were false and materially misleading throughout the class period and that investors suffered damages when the market learned the truth.

The release identified Brian Schall and David Schwartz as the contacts at Schall, Brown & Schwartz LLP. It also listed the firm’s Los Angeles office address, phone number, website and email address.

The lead-plaintiff process is open to shareholders who bought DVLT during the stated class period. The class action remains uncertified, and the release does not say when a court may decide lead representation or class certification.

Sources

• PR Newswire release: “DVLT Investors Have Opportunity to Lead Datavault AI Inc. Securities Fraud Lawsuit with SBS Law”

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.

This is the AMP version of the article. Read the full article on Atlas Watchline.