NEW YORK, June 02, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Veritone, Inc. (“Veritone” or the “Company”) (NASDAQ: VERI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Veritone and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 20, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Veritone securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On March 26, 2026, after the market closed, Veritone issued a press release, partially announcing fourth quarter 2025 financial results, including revenue of in the range of $18.1 million to $30.0 million, and that the “Company has provided a range of expected revenue for the three and twelve months ended December 31, 2025 because it is currently finalizing its accounting determination of certain revenue transactions under ASC 606.”
On this news, Veritone’s stock price fell $0.77 per share, or 29.5%, to close at $1.84 per share on March 27, 2026.
Then, on April 1, 2026, the Company filed a Form NT 10-K with the SEC, disclosing that the Company “was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 . . . within the prescribed time period primarily due to delays in finalizing the Company’s accounting determination of certain barter revenue transactions under ASC 606.” The filing further stated the “ongoing accounting analysis” may “result in out-of-period adjustments, the largest of which may result in a reduction in revenue for the quarter ended September 30, 2025 of $1.5 million to $2.5 million, or 5.2% to 8.6%, of the total $29.1 million of revenue previously reported for such quarter.” The Company disclosed it was evaluating “whether the previously issued financial statements for the quarters ended June 30, 2025 and September 30, 2025 may need to be revised or restated.
On this news, Veritone’s stock price fell $0.18 per share, or 9.14%, to close at $1.79 per share on April 1, 2026.
Then, on April 14, 2026, after the market closed, Veritone filed a Form 8-K with the SEC which disclosed that the Company had “determined 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” due to errors which resulted in, among other things, a significant overstatement of revenue and understatement of net loss. The filing disclosed a number of errors, including “an error in the valuation of consideration received associated with an on-premise software sold and delivered to a customer” as well as the “misclassification of revenue and costs in transactions in which the Company acted as an agent under ASC 606, Revenue from Contracts with Customers.”
On this news, Veritone’s stock price fell $0.19 per share, or 8.3%, to close at $2.09 per share on April 15, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
