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Deadline Alert: Quantum Computing Inc. (QUBT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
Globenewswireยท 2025-03-07 17:00
Core Viewpoint - A class action lawsuit has been filed against Quantum Computing Inc. (QCI) for allegedly making materially false and misleading statements regarding its business operations and financial performance during the class period from March 30, 2020, to January 15, 2025 [1][5]. Group 1: Allegations and Impact - Iceberg Research published a report on November 27, 2024, claiming that QCI's statements about its thin film lithium niobate (TFLN) foundry and related purchase orders were deceptive, leading to a stock price drop of $0.46 (5.8%) to close at $7.47 on December 9, 2024 [2]. - A subsequent report by Capybara Research on January 16, 2025, alleged that QCI overstated its relationship with NASA and fabricated revenues through related-party transactions, causing the stock price to fall by $1.72 (14.9%) to close at $9.83 on January 17, 2025 [3][4]. Group 2: Details of the Lawsuit - The lawsuit claims that QCI's executives made false statements about the company's quantum computing technologies, overstated its relationship with NASA, and misrepresented the status of its TFLN foundry and related orders [5]. - It is alleged that QCI's revenues were partially based on undisclosed related-party transactions, which, when revealed, would significantly harm the company's business and reputation [5]. Group 3: Legal Proceedings - Investors who purchased QCI securities during the class period have until April 28, 2025, to file a lead plaintiff motion in the class action lawsuit [1][6].