Key Takeaways:
The law firm of Kirby McInerney LLP is investigating potential claims against Veritone, Inc. (NASDAQ:VERI) after the company revealed accounting errors that overstated revenue by 8.53% for the third quarter of 2025.
"The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices," Kirby McInerney LLP said in a press release.
The investigation follows Veritone's April 14, 2026, disclosure that its financial statements for the three and nine months ended September 30, 2025, should no longer be relied upon. The company cited five categories of errors that collectively reduced its third-quarter revenue by $2.48 million to $26.63 million. On this news, Veritone shares fell $0.19, or approximately 8.3%, to close at $2.09 per share on April 15, 2026.
This was the second major stock decline for the AI company in less than a month. On March 27, 2026, the share price fell by nearly 30% after Veritone announced a wide preliminary revenue range of $18.1 million to $30 million for its fourth quarter of 2025. The company attributed the uncertainty to the finalization of its accounting for certain revenue transactions.
The investigation could lead to a class-action lawsuit, posing significant legal and financial risks for Veritone. Investors will be watching for the outcome of the investigation and any further financial restatements.
This article is for informational purposes only and does not constitute investment advice.
