A securities class action has been filed against Veritone after the company admitted its previously issued financial statements were materially misstated. The suit, covering the period from October 14, 2025 to April 14, 2026, alleges that Veritone and its executives intentionally misled investors by inaccurately recording revenue and costs, overstating revenue and assets, and maintaining deficient internal controls. Key disclosures in early 2026 included a March 26 announcement that it was finalizing accounting determinations for certain revenue transactions, which caused shares to fall over 29% the following day, and an April 14 formal disclosure that its unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2025 should no longer be relied upon. National shareholder rights firm Hagens Berman is investigating the claims, and investors who suffered losses have until July 20, 2026 to move for appointment as lead plaintiff.
Veritone IncSecurities class action filed over improper revenue accounting and misstated financials.