CoreWeave, Inc. (CRWV) Securities Class Action

The complaint focuses on the propriety of CoreWeave’s statements about its ability to meet “robust” and “unprecedented” demand for its services and, relatedly, its ability to recognize revenue (consistent with its guidance) from long-term contracts with customers for access to the company’s AI infrastructure.

The lawsuit alleges that CoreWeave made misleading statements while failing to disclose that the company overstated its ability to meet customer demand. In addition, according to the complaint, CoreWeave understated the scope and severity of the risk presented by its reliance on a single third-party data center supplier to its ability to timely meet its customers’ demand and its ability to recognize revenue consistent with assurances given to investors.

Investors began to question CoreWeave’s transparency after the markets closed on November 10, 2025. That day, the company reported its Q3 2025 financial results, surprisingly reduced its full year revenue guidance, and blamed the reduction on “temporary delays related to a third-party data center developer.”

Then, after the markets closed on December 15, 2025, The Wall Street Journal provided more clarity on CoreWeave’s predicament. That day, the Journal reported that the company’s third-party Denton data center supplier (Core Scientific) “has been flagging delays to its collaborations with CoreWeave since at least February, when it reported that it had pushed back certain construction timelines in order to make ‘design enhancements to further optimize GPU performance.’”

The market severely reacted to these events by sending the price of CoreWeave shares down $36.11 (-34%) between November 10 and December 16, 2025, wiping out a whopping $14 billion of the company’s market capitalization in about a month.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the CRWV investigation about?

Among other things, we are investigating the matters reported by the Journal and, if true, whether CoreWeave may have intentionally misled investors about its prospects.

WHAT SHOULD I DO?

I worked at CRWV. What should I do?

If you were an employee of CRWV, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in CRWV, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any CRWV investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.