The legal scrutiny follows a series of disclosures that dismantled the company's growth narrative. Throughout the class period of November 17, 2025, through August 13, 2026, Innventure publicly touted its Accelsius NeuCool technology as a key component for a massive deployment with a digital infrastructure company known as DarkNX. Management repeatedly assured investors that the project remained on track for 2026 deliveries.
Innventure Faces Class Action Lawsuit After Data Center Deal Collapses
Investors who suffered significant losses in Innventure, Inc. have until October 27, 2026, to join a class action lawsuit following a 74% stock price decline. The litigation centers on allegations that the company misled shareholders regarding a purported 300MW AI data center project in Ontario, Canada, that never materialized.
Confidence in those claims eroded in May 2026 when forensic firm Morpheus Research released a report characterizing the deal as a "grift" and citing former employees who claimed they had never heard of DarkNX. The situation reached a breaking point on August 13, 2026, when Innventure admitted the deployment site was no longer available, forcing the company to remove the project from its internal bookings and suspend its revenue guidance. Hagens Berman partner Reed Kathrein stated that the investigation focuses on whether the company intentionally or recklessly misled investors about the project's viability. The firm is currently seeking individuals with non-public information or substantial investment losses to assist in the proceedings.
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