New York City – September 10, 2026 -- Innventure, Inc. (NASDAQ:INV) faces a securities fraud class action after its stock collapsed 55% on August 14, 2026, following disclosures that its subsidiary Accelsius had pulled a marquee data center project from its bookings.
Innventure allegedly overstated the viability of Accelsius' DarkNX cooling contract
Law firm Bleichmar Fonti & Auld LLP filed the complaint in the U.S. District Court for the Southern District of New York, captioned Labed v. Innventure, Inc. et al., No. 26-cv-07377. The suit alleges Innventure and senior executives misrepresented an agreement between Accelsius and DarkNX to deploy NeuCool direct-to-chip liquid cooling technology across a proposed 300MW AI data center campus in Ontario, Canada. Innventure had cited the deal to project Accelsius reaching cash flow positivity by year-end 2026 and to support revenue growth forecasts.
A May report alleged 'zero evidence' the DarkNX project existed
On May 28, 2026, Morpheus Research published findings alleging the DarkNX venture was fabricated, citing former employees who questioned whether DarkNX had customers, a data center site, or funding to execute the announced project. Innventure shares fell 8.42%, from $6.41 to $5.87, on the news.
Innventure suspended 2026 targets and removed DarkNX from bookings in August
On August 13, 2026, after market close, Innventure suspended its previously communicated 2026 revenue and cash flow targets for Accelsius and disclosed that the identified DarkNX deployment site was no longer available, forcing removal of the project from internal bookings. Shares plunged $1.98, or 55%, from $3.60 to $1.62 the following day, marking the largest single-day drop cited in the complaint.
Investors face an October 27, 2026 deadline to seek lead plaintiff status
The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Investors who purchased Innventure securities during the relevant period have until October 27, 2026 to petition the court for lead plaintiff appointment. BFA Law is handling the matter on a contingency basis, with no upfront cost to shareholders.