Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Datavault AI Inc. (DVLT)

NEW YORK, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased or otherwise acquired Datavault AI Inc. (“Datavault AI” or the “Company”) (NASDAQ: DVLT) securities between September 4, 2024 and October 30, 2025, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose to investors that: (i) Defendants had overstated the economic value to Datavault AI of its various corporate partnerships with, inter alia, Burke, Scilex, and Nature’s Miracle; (ii) Defendants had overstated the volume of trading activity on the Datavault Platform, which was in fact minimal; (iii) the Company’s undisclosed connections with Withrow, a convicted felon, when revealed, would cause Datavault AI to incur reputational harm; (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

The Complaint alleges that on this news, 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 who purchased or otherwise acquired shares of Datavault AI should contact the Firm prior to the October 5, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.