Bradley lawsuit seeks reversal of ouster and reveals alleged $90 million to $100 million financing offer
Key Facts
Nathaniel Bradley, founder of Datavault AI, filed a lawsuit in Delaware Chancery Court on November 6, 2026, seeking a declaration that his removal as chief executive was invalid and his reinstatement, according to a company statement. The lawsuit follows the board’s November 1 decision to remove him as chief executive and company president, effective immediately. The filing with the U.S. Securities and Exchange Commission said all directors except Bradley supported the decision, while he voted against it. On November 6, the board announced the appointment of Brett Moyer as chief executive and company president, succeeding Bradley, effective immediately. The dispute puts the removal decision and the board’s authority at the center of the case, while the allegations in the lawsuit remain claims that have not been ruled on by a court.
According to the statement summarizing the complaint, Bradley says Moyer suspended him on October 30 without a board vote. Bradley links the move to a request he says he made to the board two days earlier to consider removing Moyer as chief financial officer. He alleges that Moyer acted under authority he claimed for himself, and that the suspension preceded the board’s November 1 decision to remove Bradley as chief executive and company president. This account presents Bradley’s position on the sequence of events leading to his ouster and is not an established judicial finding. The company filing, meanwhile, confirms that the board issued the removal decision on November 1 and that Bradley voted against it.
Another part of the complaint concerns a financing offer that Bradley’s lawsuit says was valued at between $90 million and $100 million. Bradley alleges that Moyer withheld the offer from independent directors and did not present it to them for consideration. The available evidence does not identify this amount as financing that was approved or completed; it is the value of an offer that the plaintiff alleges was not presented to the board. The account of the alleged withholding and the circumstances surrounding the offer remain allegations attributed to Bradley in the company statement summarizing the complaint. According to the statement, the lawsuit seeks to invalidate the removal decision and reinstate Bradley as chief executive.
After his removal from the two executive roles, the company disclosed that Bradley remained a member of the board. Moyer, meanwhile, took over as chief executive and company president, while Kimberly Brzeski was appointed board chair, according to the appointments announcement. The company said the changes took effect immediately and that Moyer succeeded Bradley, who was removed on November 1. The announced changes covered executive leadership and the board chairmanship, while Bradley remained a board member. This means the legal dispute is unfolding as the new leadership takes up its duties, according to the company’s announcement.
Against the backdrop of the company’s performance before the dispute, Datavault AI said second-quarter 2026 revenue rose 287% from the same quarter in 2025. The figure does not determine the outcome of the lawsuit or its effect on the new leadership, but places the dispute in the context of the company’s latest disclosed financial performance. An earlier company filing with the U.S. Securities and Exchange Commission said its review of the financial statements and assessment of internal control over financial reporting were still ongoing. The company also said it had not set a date for filing the restated financial statements. The available evidence does not establish a direct link between that accounting work and Bradley’s removal.
DVLT shares closed at $0.0678 in the November 6 session, according to EL7 data. That was the day the company announced the lawsuit and leadership changes, but closing data alone do not establish that these developments caused the stock’s move. The evidence did not include the session’s high and low prices, so the market figure available here is limited to the closing price. On the business front, the company said the date for announcing third-quarter 2026 results and providing a business update would be announced later. The company did not specify a date for that announcement in its statement.