Veritone investors face July 20 lead-plaintiff deadline in securities fraud class action

Veritone, Inc. (NASDAQ: VERI) is facing a proposed securities fraud class action, with July 20, 2026 set as the deadline for investors seeking to serve as lead plaintiff. The complaint alleges that between October 14, 2025 and April 14, 2026, the company and its executives made false and/or misleading statements or failed to disclose that Veritone inaccurately recorded and/or misclassified certain revenue and costs, overstating revenue, assets, accounts receivable, royalties and other comprehensive income. It further alleges the company maintained deficient internal controls over accounting and financial reporting and would be forced to restate certain financial statements, making positive statements about its business, operations and prospects materially misleading and/or lacking a reasonable basis. The claims point to Veritone’s March 26, 2026 preliminary fourth-quarter 2025 results, when it said expected revenue would range from $18.1 million to $30 million as it finalized its accounting determination for certain revenue transactions under ASC 606, followed by a 29.5% share-price drop to $1.84 on March 27. The complaint also cites Veritone’s April 14, 2026 disclosure that its previously issued unaudited condensed consolidated financial statements for the three and nine months ended Sept. 30, 2025 should no longer be relied upon because of errors that significantly overstated revenue and understated net loss; the stock then fell 8.3% to $2.09 on April 15. Faruqi & Faruqi, LLP said investors may seek appointment as lead plaintiff or remain absent class members and retain counsel of their choice.