Datavault AI Inc. (NASDAQ:DVLT) issued a statement addressing recently filed securities litigation against the company and certain officers, saying it intends to “vigorously defend” itself against the claims.
According to Datavault AI, some allegations in the shareholder lawsuit concern matters raised in an October 31, 2024 report published by short seller Wolfpack Research.
The company and its Chief Executive Officer have separately filed litigation against Wolfpack Research and its founder, Dan David. Datavault AI alleges defamation, false light, tortious interference and unjust enrichment in connection with the report.
The claims in both legal proceedings remain allegations.
Datavault AI says it stands behind public disclosures
“While we understand that the volume of legal notices and advertisements surrounding securities litigation can create concern among shareholders, our responsibility is to remain focused on the facts, the business and execution,” said Nathaniel Bradley, Chief Executive Officer of Datavault AI.
The company said it stands behind its public disclosures and intends to address the allegations through the legal process rather than through public commentary.
Datavault AI said its operational priorities remain unchanged. These include commercialising its technology platform, expanding its exchange infrastructure, scaling SanQtum, integrating acquired assets and converting contracted opportunities into revenue.
The company said it does not intend to provide further comment on the pending litigation except as required by applicable law.
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