The litigation, filed in the U.S. District Court for the Southern District of New York, represents shareholders who purchased Innventure securities between November 17, 2025, and August 13, 2026. Plaintiffs contend that while the company’s SEC filings warned of general deployment delays in the data center market, management failed to disclose that the DarkNX project—a cornerstone of the company’s 2026 revenue and cash flow projections—was effectively non-existent.

On August 14, 2026, Innventure shares plummeted by $1.98 to close at $1.62 after the company reported a $34.9 million net loss and suspended its Accelsius revenue targets. The suit alleges that internal bookings included the 300MW project despite the absence of a physical site or committed capital. Lead attorney Joseph E. Levi noted that generic risk factor language regarding timing cannot mask the omission of specific, known operational failures. Investors seeking to serve as lead plaintiffs have until October 27, 2026, to apply.