Innventure Faces Class Action Lawsuit Over Alleged Data Center Fabrication

The legal action centers on the company’s Accelsius subsidiary and its touted "NeuCool" liquid cooling technology. In November 2025, Innventure claimed a major deal with DarkNX, an infrastructure firm, to deploy this technology across a massive Ontario site. However, a May 2026 report from Morpheus Research characterized the venture as a sham, citing former executives who claimed the project lacked funding, customers, and physical existence.

Following these allegations, the company’s stock dropped 8.42%. Further volatility hit in August 2026, when Innventure reported a $34.9 million quarterly loss and confirmed that the DarkNX project had been removed from its internal bookings because the site was "no longer available." Shares subsequently plummeted 55% to close at $1.62. The lawsuit alleges that Innventure misled investors by overstating revenue projections based on a deal that had no basis in reality.

Shareholders who purchased Innventure securities between November 17, 2025, and August 13, 2026, are eligible to join the class action. Robbins LLP, which is handling the case on a contingency fee basis, has set an October 27, 2026, deadline for investors to apply as lead plaintiffs.