Quantum(US:QMCO) Globenewswire·2025-09-21 11:58Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Quantum Corporation due to alleged misleading statements and improper revenue recognition, which have resulted in significant investor losses [4][6]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $75,000 in Quantum Corporation between November 15, 2024, and August 18, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Quantum Corporation, with a deadline of November 3, 2025, for investors to seek the role of lead plaintiff [4]. Group 2: Financial Misconduct Allegations - The lawsuit claims that Quantum Corporation improperly recognized revenue for the fiscal year ended March 31, 2025, necessitating a restatement of previously filed financial statements for the fiscal third quarter ended December 31, 2024 [6]. - Quantum disclosed on June 30, 2025, that it would be unable to timely file its annual financial report due to a review of its accounting related to certain revenue contracts, leading to a stock price drop of $1.00, or 10.03%, closing at $8.97 per share [7]. - On August 8, 2025, Quantum announced that its third quarter 2024 financial statements should no longer be relied upon due to material weaknesses in internal controls, resulting in a revenue decrease of approximately $3.9 million and a stock price decline of $0.14, or 1.79%, to $7.66 per share [9]. - Following the announcement of the CEO's resignation on August 18, 2025, Quantum's stock price fell by $0.61, or 8.2%, closing at $6.83 per share [10].