Lifevoxel Virginia Spv, LLC v. lifevoxel.ai, Inc.

• Court: Court of Appeals for the Ninth Circuit
• Decided: June 17, 2026
• Docket: 25-613
• Status: Published

Opinion

FOR PUBLICATION FILED UNITED STATES COURT OF APPEALS JUN 17 2026 MOLLY C. DWYER, CLERK U.S. COURT OF APPEALS FOR THE NINTH CIRCUIT

LIFEVOXEL VIRGINIA SPV, LLC, an No. 25-613 individual; SCOTT MARSCHALL; D.C. No. DEBBIE GALLO; KEVIN SINAGRA; 3:22-cv-01917-GPC-MMP SCOTT POOLE; PETER BERSHATSKY, Southern District of California, San Diego Plaintiffs - Appellants, ORDER v.

LIFEVOXEL.AI, INC., a Delaware corporation; KOVEY KOVALAN; LINH LE, an individual,

Defendants - Appellees.

Before: Kim McLane Wardlaw, John B. Owens, Ana de Alba, Circuit Judges.

Amici are invited to submit letter briefs, not to exceed 7,000 words, in

response to one or both of the following topics:

1. Whether and how SAFE Notes can be valued before the occurrence of

a conversion event, including any industry-standard valuation methods for

outstanding SAFE Notes.

2. Whether the district court erred by concluding that, in the context of a

§ 10(b) claim, a plaintiff must “plead[] that a conversion event is impossible” to

establish the required element of loss causation “in the context of a SAFE Note investment.” See LifeVoxel Virginia SPV, LLC v. Lifevoxel.AI, Inc., 2024 WL

5264872, at *6–7 (S.D. Cal. Dec. 30, 2024).

Briefing should be submitted no later than July 10, 2026, and must comply

with Fed. R. App. P. 29.

IT IS SO ORDERED.

2 25-613