On March 13, 2026, Scilex Holding Company announced the filing of a federal securities fraud lawsuit in the U.S. District Court for the Central District of California. The lawsuit targets Marc Wade and several entities, alleging unauthorized transfer and sale of approximately 96 million shares of Datavault AI, Inc. Scilex seeks recovery of the shares, compensatory damages exceeding $100 million, and punitive damages. The case raises significant legal and operational concerns for the company.

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