WILMINGTON, Del., Nov. 6, 2026 /PRNewswire/ — Lawsuit Alleges Chairman and CFO Brett Moyer Engineered a Weekend Lockout While Keeping a $90–$100 Million Financing Offer From Independent Directors
Nathaniel Bradley, the founder whose technology became Nasdaq-listed Datavault AI Inc. (NASDAQ: DVLT), today filed a lawsuit in the Delaware Court of Chancery asking the court to declare his contested ouster as CEO void and restore him to office. The complaint alleges that Board Chairman and CFO Brett Moyer “suspended” Bradley without a Board vote, cut off his email, and then rushed through a defective Sunday meeting, all while a $90–$100 million financing lifeline sat on the table.
On October 30, two days after Bradley asked the Board to consider removing Moyer as CFO, Moyer “suspended” Bradley on his own perceived authority. According to the complaint, no Board meeting was held and no written consent was circulated. This was done despite Datavault’s own Bylaws, which give only the full Board the power to remove officers.
The lawsuit further alleges that Moyer and certain unnamed directors shut Bradley out one day after he brought the company a $90–$100 million funding offer that could have substantially improved its financial position. Rather than present the offer, Moyer “suppressed, withheld and concealed” it from the company’s independent directors.
Last night, Bradley released the following statement:
“While I remain confident in Datavault AI’s technology, product offerings, and patent-protected innovations, I strongly dispute the legal validity of the Board’s decision to remove me as President and Chief Executive Officer.
“During my tenure, we increased revenue by more than 1,300% in my first year, alongside record trading volumes, and built the foundation for continued growth. We assembled a portfolio of more than
100 patents and pending applications, including newly issued U.S. patents in data valuation, tokenization, and wireless audio. We launched the Information Data Exchange, NIL Vault, and American Political Exchange, and signed licensing and tokenization agreements that bring real-world assets, from carbon credits to gold, copper, and geothermal energy, onto our platforms. We also completed strategic acquisitions, including API Media Innovations, that expanded our reach into digital twins, sports, and live events. We broadened our strategic partnership network, including with IBM,
ServiceNow, and the Department of Energy, and recruited industry-leading talent to the Datavault cause.
“Innovators are often targeted, and I intend to protect my rights and the interests of the Company and its shareholders. I believe the Board’s action jeopardizes the Company’s ability to realize its full potential.”
Jacob Frenkel, Bradley’s lead counsel and a former SEC enforcement lawyer and federal prosecutor, said:
“The company’s groundbreaking and cutting-edge technologies are a function of Mr. Bradley’s brilliance and vision. As a corporate leader, Mr. Bradley has a long-standing commitment to best practices in corporate governance.”
Mr. Bradley puts his investors first. When you’re out building and innovating and those you think you can trust decide to stage a corporate coup, the only place for relief is in court. Mr. Bradley will continue to fight for the shareholders and against those who put their own interests ahead of the company’s stakeholders.”
Read the full complaint here.
About Nathaniel Bradley:
Nathaniel Bradley is an inventor and technology executive who holds more than 70 patents. He founded and invented AudioEye, founded Intellectual Property Network Inc., and served as CTO of Marathon Patent Group (now Marathon Digital Holdings). In 2021, he founded Data Vault Holdings, whose assets were acquired in December 2024 by WiSA Technologies, the company that became Datavault AI. As CEO, he led the company through partnerships with IBM, Dolby Laboratories, and NYIAX, as well as the acquisition of CompuSystems assets.
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SOURCE Datavault AI Inc
