Scilex Files Lawsuit Over Unauthorized Stock Transactions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 13 2026
0mins
Should l Buy DVLT?
Source: Globenewswire
- Lawsuit Background: Scilex Holding Company has filed a lawsuit in the Central District of California against Marc Wade and St. James Bank, alleging unauthorized transfer of approximately 96 million shares of Datavault stock, with losses exceeding $100 million, highlighting significant risks in the company's equity management.
- Pledged Shares Issue: The complaint states that under a stock loan agreement with St. James Bank, the pledged Datavault shares were supposed to be held as collateral but were improperly transferred and sold, leading to severe financial losses for the company.
- Market Impact: The complaint alleges that the trading activity involving the pledged shares significantly impacted the market price of Datavault stock, causing substantial financial harm to Scilex, reflecting the company's vulnerability in capital markets.
- Legal Recovery Efforts: Scilex is seeking to recover the pledged shares and compensatory damages exceeding $100 million, demonstrating the company's strong commitment to protecting shareholder interests while revealing challenges in legal compliance.
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Analyst Views on DVLT
Wall Street analysts forecast DVLT stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.609
Low
4.00
Averages
4.00
High
4.00
Current: 0.609
Low
4.00
Averages
4.00
High
4.00
About DVLT
Datavault AI Inc. is a data licensing and monetization company. The Company’s patented platform enables secure data valuation, exchange, and AI-driven monetization-enabling businesses and creators to unlock the value of their data assets across cloud, Web 3.0, and experiential computing landscapes. Its offerings are its artificial intelligence (AI)-driven agents branded as Data Vault, DataValue, DataScore, and Data Vault Bank. These tools harness generative AI to deliver enterprise-grade data management solutions. It operates through two synergistic platforms: Data Science and Acoustic Science. Its Data Sciences Platform is anchored by its flagship Data Vault platform, a patented, cyber-secured asset tokenization platform that sets a new standard for trust and innovation in Web 3.0 data science. The Acoustic Sciences Platform features a fusion of WiSA’s wireless standard technology and the category creating ADIO inaudible tone, data over sound, and mobile quick response technology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Blockchain and Data Monetization: Management emphasized the integration of blockchain and Web 3 ecosystems, positioning Datavault AI to enter scalable recurring revenue models, which is expected to drive long-term revenue growth potential for the company.
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See More
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See More
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