Robbins LLP filed a securities class action against Innventure, Inc. (NASDAQ: INV) alleging the company's DarkNX AI data center deal was fabricated. Shares fell 55% to $1.62 after the company removed the project from internal bookings.
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Innventure faces class action as shares plunge 55% on DarkNX claims
Innventure faces a securities class action alleging its DarkNX AI data center deal was fabricated, after shares plunged 55% to $1.62.
"Companies have an obligation to provide investors with complete and accurate information so that markets can function fairly and efficiently," Brian J. Robbins, founding partner at Robbins LLP, said.
The complaint, filed on behalf of investors who purchased Innventure securities between Nov. 17, 2025 and Aug. 13, 2026, alleges the company failed to disclose that its deal with DarkNX to deploy Accelsius' NeuCool liquid cooling technology across a 300MW AI data center campus in Ontario was unlikely to materialize. The suit claims revenue and cash flow targets for Accelsius in 2026 were overstated and that positive statements about the business lacked a reasonable basis.
On Aug. 13, Innventure reported a second-quarter net loss of $34.9 million, compared with $27.8 million in the first quarter, and an adjusted EBITDA loss of $22.6 million, up from $18.4 million. The company suspended its previously communicated 2026 revenue and cash flow targets for Accelsius and disclosed in its 10-Q that the DarkNX deployment site was no longer available. Shares fell 55% to $1.62 on Aug. 14.
Innventure, an industrial technology commercialization company, operates primarily through Accelsius Holdings LLC, which develops two-phase, direct-to-chip liquid cooling solutions for data centers. On Nov. 17, 2025, the company announced that DarkNX, described as a global digital infrastructure company, would deploy NeuCool across the Ontario campus in what it called "the largest two-phase, direct-to-chip deployment to date."
On May 28, short-seller Morpheus Research published a report alleging the DarkNX venture was a fabrication, quoting former Accelsius employees who said "there's no data center" and a former Innventure executive who called revenue projections "pure fiction." Shares fell 8.42% to $5.87 that day.
The class action was filed in the U.S. District Court for the Southern District of New York. Glancy Prongay Wolke & Rotter LLP has also filed a separate securities fraud lawsuit against the company, and Kirby McInerney LLP is investigating potential claims. Investors have until Oct. 27, 2026 to seek lead plaintiff status. Robbins LLP represents investors on a contingency fee basis.
The lawsuit puts Innventure's AI infrastructure growth narrative under legal scrutiny, and investors who bought INV shares during the class period face a potentially lengthy recovery process. The next milestone is the lead plaintiff deadline on Oct. 27, 2026.
This article is for informational purposes only and does not constitute investment advice.
[1] Stockholder Alert: Robbins LLP Informs Investors of the Innventure, Inc. Class Action[2] Law Offices of Frank R. Cruz Encourages Innventure, Inc. (INV) Shareholders To Inquire About Securities Fraud Class Action - Business Wire[3] INV INVESTOR ALERT: Kirby McInerney LLP Investigates[4] INV CLASS ACTION NOTICE: Glancy Prongay Wolke & Rotter LLP Files Securities Fraud Class Action Lawsuit On Behalf of Innventure, Inc. Investors
