NEW YORK, Oct. 16, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired D-Wave Quantum Inc. (“D-Wave” or the “Company”) (NASDAQ: QBTS) securities between February 26, 2026 and August 25, 2026, inclusive (the “Class Period”). The class action charges D-Wave and certain of D-Wave’s top executives with violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants failed to disclose to investors that: (i) D-Wave’s operational and financial prospects were overstated; (ii) the foregoing was reasonably likely to negatively impact the Company’s business and reputation; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
The Complaint alleges that the truth started to emerge on August 6, 2026 when D-Wave announced its financial results for the second quarter of 2026. The Complaint alleges that among other things, D-Wave reported revenue of just $3.08 million, compared to $3.1 million for the same period in the prior year, falling short of analyst expectations ranging from $4.03 million to $4.08 million. On this news, D-Wave’s stock price declined $1.99 per share, or 9.28%, to close at $19.41 per share on August 6, 2026.
The Complaint continues to allege that on August 25, 2026, D-Wave issued a press release “announc[ing] that John Markovich is retiring and thus resigning from his position as Chief Financial Officer effective September 2, 2026.” On this news, D-Wave’s stock price fell $1.84 per share, or 9.51%, closing at $17.51 per share on August 26, 2026.
Investors who purchased or otherwise acquired shares of D-Wave should contact the Firm prior to the December 14, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
