Innventure Faces Class Action Lawsuit After DarkNX Project Collapse

The litigation targets statements made by Innventure between November 17, 2025, and August 13, 2026, concerning a purported 300MW AI data center campus in Ontario, Canada. Management had previously touted the arrangement with DarkNX as the largest direct-to-chip deployment of its NeuCool technology, assuring shareholders that deliveries would commence in 2026. These claims began to falter in May 2026, when forensic research firm Morpheus Research published a report characterizing the deal as a "fake" project lacking funding or existence.

Internal narratives fully unraveled on August 13, 2026, when Innventure disclosed that the site identified for the DarkNX purchase order was no longer available. The company subsequently suspended its 2026 revenue guidance, erasing millions in market value. Reed Kathrein, a partner at Hagens Berman, stated the firm is investigating whether Innventure intentionally or recklessly misled investors about the project's legitimacy. Shareholders who suffered losses during the class period have until October 27, 2026, to apply for lead plaintiff status.