CoreWeave, Inc. (CRWV) Facing Securities Class Action Over Alleged Data Center Delays and Concealed Infrastructure Risks - Hagens Berman

Core Viewpoint - CoreWeave, Inc. is facing a securities class action lawsuit alleging that the company misled investors about its ability to scale its AI infrastructure and meet revenue guidance, leading to significant financial losses for shareholders [1][1]. Group 1: Allegations and Impact - The lawsuit claims that CoreWeave overstated its capacity to meet customer demand and concealed operational risks associated with reliance on a single third-party data center supplier [1][1]. - Following the revelation of delays at a critical data center in Denton, Texas, CoreWeave's market capitalization dropped by approximately $14 billion [1][1]. - The company experienced a 16% stock price decline on November 11 after lowering its revenue guidance, contributing to a series of stock drops that resulted in billions in lost shareholder value [1][1]. Group 2: Operational Concerns - Plaintiffs allege that CoreWeave's ability to recognize revenue from its multibillion-dollar backlog was dependent on infrastructure that management was aware was not on track for timely completion [1][1]. - The complaint highlights that CoreWeave downplayed significant delays at its Denton facility, contradicting management's claims of "rapid scaling" [1][1]. - A Wall Street Journal report indicated that the completion of the Denton facility had been delayed by several months due to severe construction hurdles [1][1]. Group 3: Legal Proceedings - Hagens Berman, the law firm representing the plaintiffs, is actively advising investors who purchased CoreWeave shares during the class period from March 28, 2025, to December 15, 2025, and suffered losses [1][1]. - The deadline for lead plaintiffs to submit their claims is set for March 13, 2026 [1][1].