Quantum(US:QMCO) Globenewswire·2025-10-26 13:21Core 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 [4][6]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is reminding investors of the November 3, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Quantum Corporation [4]. - The lawsuit claims that Quantum Corporation made false and misleading statements regarding its revenue recognition and internal controls, which materially affected investors [6]. - The firm encourages anyone with information regarding Quantum Corporation's conduct to come forward, including whistleblowers and former employees [11]. Group 2: Financial Impact and Stock Performance - On June 30, 2025, Quantum disclosed it would be unable to file its annual financial report on time, 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, resulting in a revenue decrease of approximately $3.9 million [8]. - Following the announcement of its CEO's resignation on August 18, 2025, Quantum's stock fell by $0.61, or 8.2%, closing at $6.83 per share [9].