PHILADELPHIA, July 14, 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.
The lawsuit alleges Veritone and its senior executives overstated its revenue by inaccurately recording and misclassifying certain revenue and costs under ASC 606, while concealing deficient internal controls over financial reporting that would ultimately require a restatement of previously issued financial statements.
The true state of the Company’s finances began to be revealed on March 26, 2026, when Veritone issued a press release partially disclosing fourth quarter 2025 financial results and disclosed that the Company was still 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 was unable to timely file its annual report primarily due to delays in finalizing its accounting determination of certain barter revenue transactions under ASC 606. The filing disclosed that the ongoing accounting analysis may result in a reduction in revenue for the quarter ended September 30, 2025 of $1.5 million to $2.5 million, and that the Company was evaluating whether its 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 its previously issued unaudited financial statements as of and for the three and nine months ended September 30, 2025 should no longer be relied upon due to errors resulting in, among other things, a significant overstatement of revenue and understatement of net loss. 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
SOURCE Berger Montague