Get Cash Back and $0 Commissions + The Power of TradeStation
QUBT INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Quantum Computing Inc. Investors with Substantial Losses Have Opportunity to Lead the Quantum Computing Class Action Lawsuit
Globe Newswire 26-Feb-2025 6:34 PM
SAN DIEGO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Quantum Computing Inc. (NASDAQ:QUBT) securities between March 30, 2020 and January 15, 2025, inclusive (the "Class Period"), have until April 28, 2025 to seek appointment as lead plaintiff of the Quantum Computing class action lawsuit. Captioned Cohen v. Quantum Computing Inc., No. 25-cv-01457 (D.N.J.), the Quantum Computing class action lawsuit charges Quantum Computing and certain of Quantum Computing's top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Quantum Computing class action lawsuit, please provide your information here:
CASE ALLEGATIONS: Quantum Computing is an integrated photonics company that offers quantum machines.
The Quantum Computing class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants overstated the capabilities of Quantum Computing's quantum computing technologies, products, and/or services; (ii) defendants overstated the scope and nature of Quantum Computing's relationship with the National Aeronautics and Space Administration ("NASA"), as well as the scope and nature of Quantum Computing's NASA-related contracts and/or subcontracts; (iii) defendants overstated Quantum Computing's progress in developing a thin film lithium niobate ("TFLN") foundry, the scale of the purported TFLN foundry, and orders for Quantum Computing's TFLN chips; (iv) Quantum Computing's business dealings with Quad M Solutions, Inc. and millionways, Inc. both qualified as related party transactions; (v) accordingly, Quantum Computing's revenues relied, at least in part, on undisclosed related party transactions; and (vi) all the above, once revealed, was likely to have a significant negative impact on Quantum Computing's business and reputation.
The Quantum Computing class action lawsuit further alleges that on December 9, 2024, Iceberg Research published a report alleging, among other things, that Quantum Computing "ha[d] shared photos online of what it claims to be its foundry," "this setup looks more like a laboratory," and "is a far cry from a foundry ready for ‘mass production' on what [Quantum Computing] said would be ‘five acres within the extensive 320-acre research park hosted by ASU.'" On this news, the price of Quantum Computing stock fell nearly 6%, according to the complaint.
Then, on January 16, 2025, the Quantum Computing class action lawsuit alleges that Capybara Research published a report alleging, among other things, that Quantum Computing "is a rampant fraud"; that, "[f]rom inception, [Quantum Computing] has defrauded investors by fabricating revenue, misrepresenting their products, and issuing a steady stream of false press releases"; and that "[t]o conceal their fraud, [Quantum Computing] even included a clause in employee separation agreements prohibiting them from talking to the SEC." On this news, the price of Quantum Computing stock fell nearly 15% over two trading sessions, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Quantum Computing securities during the Class Period to seek appointment as lead plaintiff in the Quantum Computing class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Quantum Computing class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Quantum Computing class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Quantum Computing class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 info@rgrdlaw.com
