Datavault AI Files Federal Lawsuit Alleging Market Manipulation and Defamation

Datavault AI (NASDAQ: DVLT) has taken legal action by filing a federal lawsuit in the Northern District of Illinois, accusing unnamed defendants of securities fraud, defamation, and intentional tort related to 'naked' short selling and the dissemination of false information online. The lawsuit, represented by Dickinson Wright, targets unknown entities referred to as Does 1-50, Roe Corporations 1-50, and XYZ LLCs 1-50, alleging they employed manipulative strategies such as spoofing, layering, and marking the close, alongside spreading defamatory statements on platforms like Stocktwits and LinkedIn. The legal proceedings seek damages and explore the possibility of civil RICO claims. Jacob Frenkel, leading the case as Chair of Dickinson Wright’s Securities Enforcement Practice, emphasized the lawsuit's goal to address actions that have negatively impacted Datavault AI's stock value, despite the company's positive developments and partnerships in 2025.