Datavault AI Inc. (NASDAQ: DVLT), a leader in AI experience and asset monetization in the Web 3.0 environment, has filed a federal lawsuit in the Northern District of Illinois. The lawsuit alleges securities fraud, defamation, and intentional tort related to 'naked' short selling and the spread of online misinformation. Represented by Dickinson Wright, the complaint targets unknown defendants, accusing them of employing manipulative trading tactics and disseminating defamatory statements on platforms like Stocktwits and LinkedIn.
The legal action seeks damages and explores potential civil RICO claims, underscoring the company's commitment to combating practices that have adversely affected its stock value. Jacob Frenkel, Chair of Dickinson Wright’s Securities Enforcement Practice, emphasized the lawsuit's goal to hold accountable those undermining Datavault AI's market position, despite the company's positive disclosures and strategic partnerships in 2025.
This case sheds light on the broader issue of market manipulation and the impact of online misinformation on investor confidence and company valuations. For more details on the lawsuit, visit https://ibn.fm/rbueY.
