---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-105675"
form_type: "8-K"
ticker: "SCLX"
cik: "0001820190"
company_name: "Scilex Holding Co"
filed_at: "2026-03-13T23:59:59+00:00"
generated_at: "2026-05-15T12:38:57.833024+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 lawsuit over 96M misappropriated Datavault collateral shares

## Summary
- Filed complaint in Central District of California against Marc Wade, St. James Bank, Omega & Corinth, and BNY Mellon.
- Alleges unauthorized transfer and sale of ~96M Datavault shares pledged as collateral in stock loan agreement.
- Seeks recovery of shares, compensatory damages >$100M, punitive damages, and disgorgement.
- Claims include federal securities fraud (10b-5), state securities fraud, conversion, and negligence.
- Large volume of trading allegedly impacted DVLT market price, causing substantial financial harm to Scilex.

## SEC filing metadata
- accession: 0001193125-26-105675
- 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/1820190/000119312526105675/0001193125-26-105675-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820190/000119312526105675/sclx-20260313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-105675
- JSON: https://secwatch.observer/filing/0001193125-26-105675.json
- Plain text: https://secwatch.observer/filing/0001193125-26-105675.txt

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