The complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, claims Datavault AI—formerly known as WiSA Technologies—deceived the public by concealing significant red flags regarding its executive team. Plaintiffs allege that the company failed to disclose that CEO Nathaniel T. Bradley had previously settled SEC charges for making false statements, and that another key figure, Edward Withrow III, holds a felony conviction related to a pump-and-dump scheme.

According to the legal filing, the company’s downfall followed an October 2025 report by Wolfpack Research, which characterized Datavault AI as a stock promotion scheme. The report alleged that the company’s high-profile partnerships with firms like Burke Products, Scilex Holding, and Nature’s Miracle were inflated, and that its blockchain-based data platform saw virtually no actual trading activity. Following the disclosure, Datavault AI shares dropped nearly 20% in a single day. Investors who acquired securities during the specified period have until October 5, 2026, to seek appointment as lead plaintiff.