Quantum Biopharma Files Amended Complaint Against CIBC World Markets, RBC Dominion Securities and Others, Seeking Damages in Excess of $700,000,000 USD, for Possible Stock Price Manipulation/Spoofing

Core Viewpoint - Quantum BioPharma Ltd. has filed an amended complaint alleging market manipulation by several banks, seeking damages exceeding $700 million USD due to the alleged manipulation of its stock price through "spoofing" techniques from January 2020 to August 2024 [1][2][3]. Group 1: Legal Proceedings - The amended complaint was filed on May 1, 2025, in response to a Motion to Dismiss from the banks [1]. - The lawsuit claims that CIBC World Markets and RBC Dominion Securities, among others, violated the Securities Exchange Act of 1934 [1][2]. - The law firms Christian Attar and Freedman Normand Friedland LLP are representing the company on a contingency basis, alleviating financial pressure for legal costs [2]. Group 2: Allegations of Market Manipulation - The complaint alleges that the defendants engaged in "spoofing" techniques that artificially depressed Quantum BioPharma's stock price [2]. - The company asserts that the stock was trading over$460 USD per share in January 2020, with a market capitalization nearing $1 billion USD [3]. - Quantum BioPharma believes that additional banks and brokers may also be involved in the alleged manipulation but will not disclose their names until more evidence is gathered [3]. Group 3: Company Overview - Quantum BioPharma is focused on developing innovative biopharmaceutical solutions for neurodegenerative and metabolic disorders [7]. - The company is advancing its lead compound, Lucid-MS, which aims to prevent and reverse myelin degradation associated with multiple sclerosis [8]. - Quantum BioPharma retains a 22.95% ownership stake in Celly Nutrition Corp., which includes a royalty agreement on sales from its product unbuzzd™ [8].