SAN FRANCISCO, July 7, 2026 /PRNewswire/ -- National shareholder rights firm Hagens Berman (HBSS) is actively investigating claims alleged against Veritone, Inc. (NASDAQ: VERI) and certain of its executives in a pending securities class action filed after the company admitted its previously issued financial statements were materially misstated.
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The firm's investigation focuses on the suit's claims that Veritone and its management violated the securities laws by intentionally misleading investors regarding the company's financial performance through improper accounting practices during the period from October 14, 2025, to April 14, 2026.
Allegations of Improper Accounting and Revenue Inflation:
The securities class action follows a series of disclosures in early 2026 that resulted in significant declines in Veritone's share price. The core allegations, which emerged in a recently filed complaint against the company, claim that Veritone failed to disclose that it:
- Inaccurately recorded and/or misclassified certain revenue and costs.
- Overstated its revenue, assets, accounts receivable, royalties, and other comprehensive income.
- Maintained deficient internal controls over accounting and financial reporting.
- Provided investors with positive statements regarding its business, operations, and prospects that lacked a reasonable basis.
Key Disclosures and Market Impact
- March 26, 2026: Veritone announced that it was "finalizing its accounting determination of certain revenue transactions," causing shares to fall over 29% the following day.
- April 1, 2026: The company delayed its annual report filing due to accounting determination issues regarding barter revenue, leading to another stock decline.
- April 14, 2026: Veritone formally disclosed that its unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2025, should no longer be relied upon, citing errors in software valuation and revenue misclassification, which drove the price of Veritone shares down further.
Hagens Berman's Investigation
"Our investigation is focused on whether Veritone and its management intentionally misled investors about its financial performance using now-admitted improper accounting," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
Investor Rights and Court Deadlines
If you invested in Veritone securities during the Class Period (October 14, 2025 – April 14, 2026) and suffered financial losses, you may be eligible to serve as lead plaintiff in the ongoing litigation. The court-imposed deadline to move for appointment as lead plaintiff is July 20, 2026.
- Report your losses
- Contact the Firm Now: VERI@hbsslaw.com
- HBSS Investor Hotline: 844-916-0895
- Hagens Berman Veritone Site: www.hbsslaw.com/cases/veritone
View our latest video summary of the allegations: youtu.be/dflmz_R1g64
Whistleblowers: Persons with non-public information regarding Veritone should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VERI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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SOURCE Hagens Berman Sobol Shapiro LLP
