NEW YORK, NY - May 27, 2026 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Veritone, Inc. (“Veritone” or the “Company”) (NASDAQ: VERI) on behalf of investors that purchased or otherwise acquired Veritone securities between October 14, 2025 and April 14, 2026 (the “Class Period”).
If you are an investor in Veritone and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 20, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On March 26, 2026, after the market closed, Veritone issued a press release, announcing fourth quarter 2025 financial results and stating that “[the Company] is currently finalizing its accounting determination of certain revenue transactions under ASC 606.” Further, the press release states that “[t]he revenue transactions under review are (1) a non-monetary transaction in which Veritone sold an on-premise software license in exchange for certain intangible rights with a negotiated price of $13.0 million in Q4 2025, which has an estimated value based upon the stand alone selling price of the software of between $0.4 million and $11.3 million and (2) the estimated fair value associated with an on-premise software sale in fiscal year 2025 of between $1.8 million to $2.8 million.”
On this news, the price of Veritone stock fell $0.77 per share, over 29%, to close at $1.84 per share on March 27, 2026.
On April 14, 2026, Veritone disclosed in a filing with the U.S. Securities and Exchange Commission "that the Company's previously issued unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2025 should no longer be relied upon,” citing a number of errors that resulted in overstatements of revenue.
On this news, the price of Veritone stock fell $0.19, or 8.3%, to close at $2.09 per share on April 15, 2026.
The complaint alleges, among other things, that throughout the Class Period, “Defendants failed to disclose to investors: (1) that the Company inaccurately recorded and/or misclassified certain revenue and costs; (2) that, as a result, the Company overstated its revenue, assets, accounts receivable, royalties and other comprehensive income; (3) that Veritone maintained deficient internal controls over accounting and financial reporting; (4) that, as a result of the foregoing, the Company would be forced to restate certain of its financial statements, and (5) that, as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1501
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
https://www.kaplanfox.com/case/veritone-inc-class-action-alert-learn-more-now/
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