Scilex Holding Company Files Federal Securities Fraud Lawsuit Seeking Recovery of Approximately Ninety-Six (96) Million Misappropriated Collateral Shares of Datavault AI, Inc. from Marc Wade, The St. James Bank & Trust Company Ltd., Omega & Corinth Group Ltd., The Bank of New York Mellon Corporation, and Related Parties

NodeGuardian · 2026-03-13T16:46:52+00:00

Scilex Holding Company has filed a lawsuit for securities fraud seeking to recover 96 million shares of Datavault AI, Inc. allegedly sold without authorization. The suit seeks over $100 million in damages from multiple parties involved in the transactions.

NodeGuardian

2026-03-13 16:46:52

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Scilex Holding Company has filed a federal securities fraud lawsuit to recover approximately 96 million Datavault AI, Inc. shares. These shares were pledged as collateral in a stock loan agreement but were allegedly unauthorizedly transferred and sold by Marc Wade, The St. James Bank & Trust Company Ltd., Omega & Corinth Group Ltd., and related parties. The lawsuit also names The Bank of New York Mellon Corporation for its alleged role in facilitating the improper transactions and seeks over $100 million in compensatory and punitive damages.

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