Quantum(US:QMCO) Globenewswire·2025-10-12 12:32Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Quantum Corporation due to allegations of improper revenue recognition and subsequent financial restatements, which have led to significant stock price declines and investor losses [2][4][5]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses 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 [2]. - The lawsuit claims that Quantum Corporation made false and misleading statements regarding its revenue recognition and internal controls, which materially affected investors [4]. Group 2: Financial Disclosures and Stock Performance - On June 30, 2025, Quantum disclosed it would be unable to timely file its annual financial report due to accounting reviews, resulting in a stock price drop of $1.00, or 10.03%, closing at $8.97 per share [5]. - On August 8, 2025, Quantum announced that its third quarter 2024 financial statements should no longer be relied upon, leading to a restatement of approximately $3.9 million in revenue and a stock price decline of $0.14, or 1.79%, to $7.66 per share [6]. - Following the resignation of Quantum's CEO on August 18, 2025, the stock price fell by $0.61, or 8.2%, closing at $6.83 per share, further impacting investors [7]. Group 3: Investor Participation and Information Gathering - The court-appointed lead plaintiff will represent the interests of the class, and any member may move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [8]. - Faruqi & Faruqi is also seeking information from whistleblowers, former employees, and shareholders regarding Quantum Corporation's conduct [9].