Innventure faces securities class action lawsuit over DarkNX project claims

SAN FRANCISCO, Sept. 3, 2026 /CourierPR/ -- Innventure, Inc., the developer of Accelsius' NeuCool technology, faces a significant securities class action lawsuit after its stock price plummeted 55% on August 14, 2026, following revelations about the company's touted DarkNX project. The lawsuit, initiated by the national shareholders' rights firm Hagens Berman, seeks to determine whether Innventure misled investors about the viability of the project.

The DarkNX project was described by Innventure as "the largest two-phase, direct-to-chip deployment to date," signaling a major shift toward large-scale industry adoption of next-generation cooling. During the class period, from November 17, 2025, to August 13, 2026, Innventure reassured investors that the project was "proceeding as expected" with initial deliveries anticipated in 2026. However, on May 28, 2026, forensic research firm Morpheus Research released a report titled "Innventure: The Latest Iteration Of A Decades-Long Grift Propped Up By A Fake 300MW Data Center Deal." The report claimed there was "zero evidence" of the project's existence or DarkNX's capability to undertake such a venture.

According to the report, a former Innventure executive stated that the company was using "false information" and "pure fiction" revenue projections to attract investments. A former Accelsius employee further confirmed that the company had "never heard of DarkNX" and that "there's no data center." These claims cast serious doubts on Innventure's claims and contributed to the stock's dramatic decline.

On August 13, 2026, Innventure officially announced that the deployment site for the DarkNX project was no longer available. As a result, the company removed the project from its internal bookings and suspended its 2026 revenue and cash flow expectations. Between May 27, 2026, and August 14, 2026, the price of Innventure shares fell by $4.795, a staggering 74%.

Reed Kathrein, the Hagens Berman partner leading the investigation, stated, "We are focused on whether Innventure may have intentionally or recklessly misled its shareholders about the viability of the DarkNX project."

In addition, whistleblowers with non-public information about Innventure are being sought. Under the SEC Whistleblower program, individuals who provide original information can receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

Hagens Berman, a global plaintiffs' rights firm, has a history of securing substantial recoveries for its clients. The firm has achieved over $2.9 billion in settlements and is currently investigating potential misrepresentations made by Innventure.