Overview
- Two plaintiff firms, The Schall Law Firm and DJS Law Group, are soliciting Veritone shareholders to seek lead-plaintiff status for a proposed class covering October 14, 2025 through April 14, 2026, with motions due July 20, 2026.
- The complaints allege Veritone misclassified certain revenues and related costs, which the firms say led the company to overstate revenues, accounts receivable, and other income.
- Firms are recruiting shareholders who suffered trading losses and offering free consultations, but the class has not been certified and investors are not represented by counsel until certification.
- Veritone previously disclosed in late March and April that its prior quarterly revenue figures were unreliable, a sequence that coincided with steep stock declines and prompted questions about restatements.
- If a lead plaintiff is appointed, control of discovery and strategy could shape the scope of document review into accounting entries and internal controls and influence whether regulators such as the SEC open formal probes.