Bleichmar Fonti & Auld LLP filed a securities fraud class action against Innventure (INV) after its stock fell 55 percent to $1.62 following the collapse of a DarkNX data center deal. Investors who bought shares between Nov. 17, 2025 and Aug. 13, 2026 have until Oct. 27 to seek lead plaintiff status.
A securities fraud class action has been filed against Innventure Inc. (NASDAQ: INV) and certain senior executives, with the complaint centering on a collapsed data center deal that erased more than half the company's share value in a single session.
"The complaint alleges that Accelsius' alleged transformative deal with DarkNX was unlikely to come to fruition as no evidence of DarkNX constructing or facilitating a large scale AI data center existed," Bleichmar Fonti & Auld LLP said in a statement announcing the filing.
The lawsuit covers investors who bought Innventure securities between Nov. 17, 2025 and Aug. 13, 2026. On Nov. 17, Innventure announced its subsidiary Accelsius had signed an agreement with DarkNX to deploy its NeuCool liquid-cooling technology across a planned 300MW AI data center campus in Ontario, Canada. On Aug. 13, the company said it was "suspending previously communicated expectations regarding Accelsius' 2026 revenue and cash flow targets," and its Form 10-Q filed the same day disclosed that "the deployment site identified in the DarkNX purchase order is no longer available" and that Accelsius had removed the project from internal bookings. Shares fell $1.98 to close at $1.62 the following day, a 55 percent drop.
The complaint further alleges Innventure failed to disclose that its stated revenue and cash flow targets for Accelsius in 2026 were overstated and that positive statements about the company's business and prospects were materially misleading. At least three law firms — Bleichmar Fonti & Auld, Bronstein Gewirtz & Grossman, and Kaplan Fox & Kilsheimer — have announced the action, with the lead plaintiff deadline set for Oct. 27, 2026.
The litigation adds legal and reputational pressure on a company whose market value has already contracted sharply since the deal unraveled. Investors who suffered losses have until Oct. 27 to petition the court for lead plaintiff appointment, though participation in any recovery does not require serving in that role. The next material development will be whether the court consolidates the competing filings and whether Innventure issues further disclosures about the DarkNX arrangement in its next quarterly report.
This article is for informational purposes only and does not constitute investment advice.
