Veritone faces class action over 2025-26 accounting disclosures

Veritone, Inc. is facing a securities class action tied to accounting disclosures that unfolded between March 26 and April 14, 2026, after the company said certain previously issued financial statements should no longer be relied upon. The proposed case seeks to represent investors who purchased or otherwise acquired Veritone securities between October 14, 2025 and April 14, 2026, with a lead plaintiff deadline of July 20, 2026. Law firms including Hagens Berman and Rosen Law Firm have publicized the case, which alleges Veritone and its management misled investors by assuring the market that its financial statements complied with applicable accounting rules while allegedly failing to accurately record and classify certain revenues and costs and overstating revenue, assets, accounts receivable, royalties and other comprehensive income. The litigation traces to a series of disclosures: preliminary Q4 2025 revenue guidance on March 26, 2026 that cited ongoing accounting determinations for certain revenue transactions, a delayed annual report notice on April 1 tied to barter revenue transactions and possible revisions or restatements for the quarters ended June 30 and September 30, 2025, and an April 14 statement that unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2025 should no longer be relied upon because of misapplied accounting. Hagens Berman said those announcements drove Veritone shares down more than 29% the next day, more than 9% on April 1, and more than 8% the next day after the April 14 disclosure. Rosen Law Firm said a class action has already been filed and noted that investors may seek appointment as lead plaintiff by July 20, 2026, while also stating that any potential recovery does not depend on serving in that role.