CoreWeave Faces Securities Fraud Lawsuit
Multiple law firms, including Rosen Law Firm and Robbins Geller Rudman & Dowd LLP, have announced a securities class action lawsuit against CoreWeave, Inc. (NASDAQ: CRWV). The suit is on behalf of investors who purchased securities between March 28, 2025, and December 15, 2025. Investors now have until March 13, 2026, to seek appointment as lead plaintiff.
- The lawsuit alleges that CoreWeave made misleading statements about its ability to meet "unprecedented" demand for its AI infrastructure, while concealing significant construction delays at its data centers. - A proposed merger with digital infrastructure company Core Scientific, which CoreWeave claimed would "de-risk our future expansion," was terminated on October 30, 2025, after failing to receive enough shareholder votes. This news caused CoreWeave's stock to drop by over 6%. - On November 10, 2025, CoreWeave lowered its 2025 revenue guidance, citing delays from a third-party data center developer. This announcement led to a more than 16% drop in its stock price. - A subsequent Wall Street Journal report on December 15, 2025, revealed that the data center delays had been flagged internally for months, contributing to another 3% stock drop. - The company had gone public on March 28, 2025, with its IPO pricing at $40.00 per share. The class action lawsuit covers the period from this IPO date through December 15, 2025. - Prior to the lawsuit, CoreWeave had shown dramatic revenue growth, from $229 million in 2023 to an estimated $1.9 billion in 2024, but also reported a net loss of $863 million in 2024 as it scaled its operations. - The lawsuit names CoreWeave and certain of its top executives as defendants, with some filings specifically mentioning CEO Michael Intrator. - In the wake of these events, CoreWeave's stock fell approximately 34% between November 10 and December 16, 2025, which wiped out about $14 billion in market capitalization.
