11:58 AM EDT, 03/13/2026 (MT Newswires) -- Scilex ( SCLX ) said Friday it has filed a lawsuit in the US District Court for the Central District of California against Marc Wade, The St. James Bank & Trust Company, Omega & Corinth Group and related parties, alleging the unauthorized transfer and sale of about 96 million Datavault AI ( DVLT ) shares pledged as collateral in a stock loan transaction.

The lawsuit also names the Bank of New York Mellon ( BK ) for its alleged role in opening brokerage accounts that were used to transfer and sell the pledged shares, Scilex ( SCLX ) said.

Scilex ( SCLX ) said it is looking to recover the pledged Datavault shares, compensatory damages of more than $100 million, punitive damages, disgorgement of profits, and other relief.

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