Item 3. Legal Proceedings
Item 3.
Legal Proceedings.
On March 13, 2026, Datavault was named as a defendant in a lawsuit captioned, Li et al v. Datavault AI, Inc., Case No. 1:26-cv-02091, filed in the U.S. District Court for the Southern District of New York. The complaint alleges breach of contract, conversion and that Datavault violated Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder. The complaint seeks monetary damages. The Company intends to defend the action. At this time, we are unable to predict the outcome of this action or reasonably estimate the range of possible losses. Although we do not believe this matter will have a material adverse effect on our business, financial position, results of operations, or cash flows, we can provide no assurance that our business, financial position, results of operations or cash flows will not be materially adversely affected.
From time to time we may become involved in other legal proceedings or be subject to claims arising in the ordinary course of our business.
Item 4.
Mine Safety Disclosures.
Not applicable.
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Table of Contents
PART II
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.