SAN DIEGO, March 12, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of all persons or entities that purchased or otherwise acquired Quantum Computing Inc. (NASDAQ: QUBT) securities between March 30, 2020 and January 15, 2025. Quantum Computing (QCI) purportedly uses nonlinear quantum optics to deliver quantum products for high-performance computing applications.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Quantum Computing Inc. (QUBT) Misled Investors Regarding its Third Party Transactions, Among Other Things
According to the complaint, during the class period, defendants failed to disclose to investors that: (i) defendants overstated the capabilities of QCI’s quantum computing technologies, products, and/or services; (ii) defendants overstated the scope and nature of QCI’s relationship with NASA, as well as the scope and nature of QCI’s NASA-related contracts and/or subcontracts; (iii) defendants overstated QCI’s progress in developing a TFLN foundry, the scale of the purported TFLN foundry, and orders for the Company’s TFLN chips; (iv) QCI’s business dealings with Quad M and millionways both qualified as related party transactions; (v) accordingly, QCI’s revenues relied, at least in part, on undisclosed related party transactions; (vi) all the foregoing, once revealed, was likely to have a significant negative impact on QCI’s business and reputation; and (vii) as a result, defendants’ public statements were materially false and misleading at all relevant times.
The complaint alleges that on January 16, 2025, Capybara Research published a report alleging, inter alia, that QCI had overstated its ties to NASA and fabricated revenues through multiple related-party transactions, particularly with Quad M and millionways. The Capybara report also alleged that QCI’s products were fake, citing comments by former QCI personnel; and that QCI was pumping its stock price with false and misleading press releases, citing discussions with QCI’s former employees, QCI’s associates and prime contractors, and NASA personnel. Moreover, the Capybara report alleged that QCI had never purchased the five-acre parcel at the ASU Research Park for its TFLN foundry, citing ASU Research Park management. On this news, QCI’s stock price fell $1.72 per share, or 14.89%, over the following two trading sessions, to close at $9.83 per share on January 17, 2025.
What Now: You may be eligible to participate in the class action against Quantum Computing Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 28, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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