Innventure Faces Class Action Over Alleged Data Center Fraud

The complaint, filed in the U.S. District Court for the Southern District of New York under the caption Labed v. Innventure, Inc. et al., alleges that senior executives misrepresented the viability of an agreement between Innventure subsidiary Accelsius and DarkNX. Innventure had previously promoted the deal, which involved deploying liquid cooling technology at a 300MW AI data center in Ontario, as a major commercial milestone essential to reaching cash flow positivity by the end of 2026.

Skepticism first emerged on May 28, 2026, when a Morpheus Research report claimed the DarkNX project was fabricated, citing a total lack of evidence regarding the site, funding, or existing customers. While the stock initially dipped 8.42% following those allegations, the primary fallout occurred on August 14, 2026. After Innventure officially removed the project from its internal bookings—admitting the deployment site was no longer available—the company's share price plummeted 55% in a single day. Bleichmar Fonti & Auld LLP is now representing shareholders seeking to address these losses under the Securities Exchange Act of 1934.