Datavault AI Inc. Files Lawsuit Alleging Securities Fraud and Defamation

Datavault AI Inc. (NASDAQ: DVLT) has taken legal action by filing a federal lawsuit in the Northern District of Illinois, alleging securities fraud, defamation, and intentional tort connected to 'naked' short selling and the spread of online misinformation. The lawsuit, represented by Dickinson Wright, targets unknown defendants referred to as Does 1-50, Roe Corporations 1-50, and XYZ LLCs 1-50. It accuses these parties of employing manipulative trading strategies such as spoofing, layering, and marking the close, alongside disseminating defamatory statements on platforms like Stocktwits and LinkedIn.

Jacob Frenkel, Chair of Dickinson Wright’s Securities Enforcement Practice and lead counsel for the case, emphasized the lawsuit's goal to hold accountable those whose actions have negatively impacted Datavault AI’s stock, despite the company's positive disclosures and strategic partnerships in 2025. The legal action seeks damages and explores potential civil RICO claims, underscoring the broader implications for companies combating stock manipulation and online defamation.

For further details on the lawsuit, visit https://ibn.fm/rbueY.