Innventure Faces Class Action Over Alleged Fake Data Center Project

The litigation targets Innventure’s repeated public assurances regarding a partnership with DarkNX, which was billed as a massive deployment of Accelsius cooling technology in Ontario, Canada. Throughout the class period between November 17, 2025, and August 13, 2026, the company touted the project as a landmark shift for the industry. However, the narrative shifted on May 28, 2026, when Morpheus Research published a report labeling the venture a "decades-long grift," citing former employees who claimed they had never heard of DarkNX.

In August, the company confirmed the collapse of the deal, admitting that the project site was no longer available and subsequently removing the contract from its internal bookings. Hagens Berman, the law firm spearheading the investigation, is now examining whether Innventure executives intentionally or recklessly misled shareholders with projections described by one former insider as "pure fiction." Partner Reed Kathrein is currently collecting information from affected investors and potential whistleblowers, noting that the firm is focused on the veracity of the company's financial representations during the lead-up to the stock's 55% single-day crash on August 14.