Workflow
QCI ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Quantum Computing, Inc. and Encourages Investors to Contact the Firm
QMCOQuantum(QMCO) GlobeNewswire News Room·2025-02-27 02:00

Core Viewpoint - A class action lawsuit has been filed against Quantum Computing, Inc. (QCI) for allegedly making false and misleading statements regarding its technologies, relationships, and business dealings during the specified class period [1][3]. Summary by Relevant Sections Lawsuit Details - The lawsuit was filed in the United States District Court for the District of New Jersey on behalf of all individuals and entities who purchased QCI securities between March 30, 2020, and January 15, 2025 [1]. - Investors have until April 28, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against QCI - Defendants are accused of overstating the capabilities of QCI's quantum computing technologies, products, and services [3]. - The lawsuit claims that QCI exaggerated its relationship with NASA, including the nature and scope of NASA-related contracts and subcontracts [3]. - Allegations include overstating progress in developing a TFLN foundry and the scale of the purported TFLN foundry, as well as orders for QCI's TFLN chips [3]. - QCI's business dealings with Quad M and millionways are claimed to qualify as related party transactions, which were not disclosed [3]. - The lawsuit suggests that QCI's revenues were partially reliant on undisclosed related party transactions [3]. - The revelations from the lawsuit are expected to have a significant negative impact on QCI's business and reputation [3]. - Overall, the public statements made by the defendants are claimed to have been materially false and misleading throughout the relevant period [3].