Innventure, Inc. (INV) Securities Class Action

The litigation is focused on the propriety of Innventure’s statements about Accelsius’ arrangement with DarkNX, a purported global digital infrastructure company, under which DarkNX would deploy Accelsius’ NeuCool technology across a new 300MW AI data center campus in Ontario, Canada.

More specifically, the company has characterized the project as “the largest two-phase, direct-to-chip deployment to date, signaling a major shift toward large-scale industry adoption of next-generation cooling.” In addition, during the Class Period, Innventure assured investors that the DarkNX project is “proceeding as expected with initial deliveries expected in 2026.”

The company’s narrative began to come into question on May 28, 2026. That day, forensic research firm Morpheus Research published “Innventure: The Latest Iteration Of A Decades-Long Grift Propped Up By A Fake 300MW Data Center Deal.”  According to the Morpheus report, there was “zero evidence this project exists or that DarkNX has the team or funding to even contemplate such a project.”

The report said “[a]ccording to a former Innventure executive, management was using ‘false information’ and revenue projections that were ‘pure fiction’ to solicit investments into Accelsius.” Quoting a former Accelsius employee, when asked about DarkNX, the former employee reportedly said “‘we’ve never heard of the company’” and “‘there’s no data center.’”

On August 13, 2026, Innventure’s narrative fully unraveled, when the company revealed “that the deployment site identified in the DarkNX purchase order is no longer available.” Accordingly, the company removed the DarkNX project from its internal bookings and suspended its 2026 revenue and cash flow expectations.

As a result of these revelations, between May 27, 2026 (the day before Morpheus’ report) and August 14, 2026, the price of Innventure shares crumbled $4.795, or a whopping 74%.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the INV investigation about?

We are focused on whether Innventure may have intentionally or recklessly misled its shareholders about the viability of the DarkNX project.

WHAT SHOULD I DO?

I worked at INV. What should I do?

If you were an employee of INV, 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 INV, 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 INV 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.