Datavault AI Founder Sues Board Over Contested CEO Ouster
Datavault AI founder Nathaniel Bradley has sued the company’s board in Delaware, asking the Court of Chancery to declare his removal as CEO void and restore him to office. The complaint alleges that Chairman and CFO Brett Moyer suspended Bradley without a board vote and withheld a $90, $100 million financing offer from independent directors.
- Nathaniel Bradley filed suit in the Delaware Court of Chancery.
- He wants his removal as Datavault AI CEO declared void.
- The complaint alleges Brett Moyer suspended Bradley without a board vote.
- Bradley alleges directors withheld a $90, $100 million financing offer.
- The lawsuit also challenges the handling of a subsequent Sunday meeting.
Lawsuit challenges the removal process
Bradley filed the lawsuit on November 6, according to the PR Newswire announcement. The complaint alleges that Moyer suspended him on October 30, two days after Bradley asked the board to consider removing Moyer as CFO.
According to the complaint, no board meeting was held and no written consent was circulated before Bradley was suspended. The filing says Datavault AI’s bylaws give the full board the power to remove officers. It also alleges that Bradley’s email access was cut off before Moyer and certain unnamed directors moved through a Sunday meeting that the lawsuit describes as defective.
The case asks the Delaware Court of Chancery to reject the ouster and return Bradley to the CEO role. The claims in the announcement are allegations from Bradley’s lawsuit and have not been established by a court.
Dispute centers on financing offer
The lawsuit also alleges that Bradley was locked out one day after bringing the company a $90, $100 million financing offer. The complaint says the funding could have substantially improved Datavault AI’s financial position, but that Moyer “suppressed, withheld and concealed” it from the company’s independent directors.
Bradley said he remains confident in Datavault AI’s technology, product offerings and patent-protected innovations while disputing the legal validity of the board’s decision. In a statement released before the announcement, he said, “Innovators are often targeted, and I intend to protect my rights and the interests of the Company and its shareholders.”
Bradley also claimed that revenue increased by more than 1,300% in his first year and said the company built a portfolio of more than 100 patents and pending applications. He cited the launches of Information Data Exchange, NIL Vault and American Political Exchange, along with licensing and tokenization agreements involving carbon credits, gold, copper and geothermal energy.
Bradley’s record and the broader company dispute
Bradley’s statement also pointed to strategic acquisitions, including API Media Innovations, which he said expanded Datavault AI’s reach into digital twins, sports and live events. He cited partnerships involving IBM, ServiceNow and the Department of Energy, as well as newly issued U.S. patents in data valuation, tokenization and wireless audio.
Bradley’s lead counsel, Jacob Frenkel, described the technologies as a function of Bradley’s “brilliance and vision” and said Bradley has a long-standing commitment to corporate governance best practices. The announcement identifies Frenkel as a former SEC enforcement lawyer and federal prosecutor.
The litigation puts Datavault AI’s leadership, governance and proposed financing at the center of a legal dispute. Bradley says he will continue pursuing the case on behalf of shareholders, while the court will determine whether the board’s actions complied with the company’s governing documents.
PR Newswire: Datavault AI Founder Nathaniel Bradley Sues Board
