PHILADELPHIA, May 26, 2026 /PRNewswire/ — National plaintiffs’ law firm Berger Montague PC announces a class action lawsuit against Veritone, Inc. (NASDAQ: VERI) (“Veritone” or the “Company”) on behalf of investors who purchased or acquired Veritone common stock during the period from October 14, 2025 through April 14, 2026 (the “Class Period”).

Investor Deadline: Investors who purchased or acquired Veritone common stock during the Class Period may, no later than July 20, 2026, seek to be appointed as a lead plaintiff representative of the class. To learn your rights, CLICK HERE.

Veritone, headquartered in Irvine, Calif., is a public enterprise AI company that develops custom artificial intelligence solutions, applications, and its proprietary AI operating system, aiWARE™, to help commercial and public sector clients automate and scale.

The complaint alleges that throughout the Class Period, Veritone and its senior executives failed to disclose that the Company had inaccurately recorded and misclassified certain revenue and costs — including through misclassification of agent transactions and errors in the valuation of consideration received under ASC 606 — resulting in a significant overstatement of revenue and understatement of net loss. Defendants further concealed that Veritone maintained deficient internal controls over financial reporting, and that these failures would ultimately compel the Company to restate previously issued financial statements.

On March 26, 2026, Veritone issued a press release partially disclosing fourth quarter 2025 financial results, including that the Company was “finalizing its accounting determination of certain revenue transactions under ASC 606.” On this news, Veritone’s stock price fell $0.77, or 29%, 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 it could not timely file its Annual Report on Form 10-K, as Veritone was finalizing its “accounting determination of certain barter revenue transactions under ASC 606.” The Company stated 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, or 9%, to close at $1.79 per share on April 1, 2026.

Finally, on April 14, 2026, Veritone filed a Form 8-K with the SEC disclosing that the Company had determined that previously issued financial statements 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, or 8%, to close at $2.09 per share on April 15, 2026.

If you are a Veritone investor and would like to learn more about this action, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bergermontague.com or (215) 875-3015, or Caitlin Adorni at cadorni@bergermontague.com or (267) 764-4865.

About Berger Montague

Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.

For more information or to discuss your rights, please contact:

Andrew Abramowitz
Berger Montague
(215) 875-3015
aabramowitz@bergermontague.com 

Caitlin Adorni
Berger Montague
(267)764-4865
cadorni@bergermontague.com 

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