---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-104940"
form_type: "8-K"
ticker: "SCLX"
cik: "0001820190"
company_name: "Scilex Holding Co"
filed_at: "2026-03-13T23:59:59+00:00"
generated_at: "2026-05-15T12:38:49.067603+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Scilex files federal securities fraud suit over $100M sham stock-loan; alleges defendants sold pledged shares

## Summary
- Complaint filed March 11, 2026, against Marc Wade, St. James Bank, Omega & Corinth, and BNY Mellon.
- Alleges 85M+ Datavault AI (DVLT) shares pledged as collateral were sold by defendants without authorization.
- Loan proceeds were only ~$37M of the promised $100M, and sales were used to fund the loan and manufacture defaults.
- Scilex claims BNY Mellon failed to comply with SEC reporting requirements while facilitating over $10M in suspicious trades.
- Five causes of action: federal securities fraud, state securities fraud, fraudulent inducement, conversion, and negligence.

## SEC filing metadata
- accession: 0001193125-26-104940
- form_type: 8-K
- ticker: SCLX
- cik: 0001820190
- company_name: Scilex Holding Co
- filed_at: 2026-03-13T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820190/000119312526104940/0001193125-26-104940-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820190/000119312526104940/sclx-20260313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-104940
- JSON: https://secwatch.observer/filing/0001193125-26-104940.json
- Plain text: https://secwatch.observer/filing/0001193125-26-104940.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.