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Datavault AI (NASDAQ:DVLT) shares were initially trading higher on Monday, but have since reversed. The company announced a response to Wolfpack Research’s short report.
What To Know: Datavault AI issued a formal response condemning what it called a "self-serving and malicious" short report from Wolfpack Research. The company said the report contained "false and defamatory claims" intended to manipulate its stock for financial gain.
CEO Nathaniel Bradley said Datavault AI intends to file suit against Wolfpack Research to "hold [it] accountable for its malicious conduct." The company has retained Paul Hastings LLP and Dickinson Wright PLLC as legal counsel to advise on litigation strategy and regulatory action.
“It’s obvious that these actors are financially benefitting from spreading false information,” Bradley said.
Datavault AI reaffirmed the strength of its intellectual property portfolio, which includes more than 70 U.S. and international patents covering AI-driven data valuation, inaudible audio signal technology, blockchain tokenization and enterprise data monetization systems.
The company also highlighted recent milestones, including new partnerships, acquisitions and the upcoming launch of four data-exchange platforms focused on real-world asset tokenization and corporate data marketplaces.
Related Link: Nvidia, Amazon Extend Rally, Bitcoin Sinks To $107,000: What’s Moving Markets Monday?
DVLT Price Action: At the time of writing, Datavault shares are trading 6.35% lower at $1.91, according to data from Benzinga Pro.
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Posted In: DVLT
