From Optimism to Disillusionment: a securities lawsuit alleges D-Wave overstated its growth and operational momentum, and investor confidence in QBTS eroded once reported revenue failed to keep pace with the story
NEW YORK, Nov. 02, 2026 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies purchasers of D-Wave Quantum Inc. (NYSE: QBTS) securities between February 26, 2026 and August 25, 2026 that a securities class action is pending. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
QBTS shares fell $1.99, or 9.28%, to close at $19.41 on August 6, 2026. They then fell $1.84, or 9.51%, to close at $17.51 on August 26, 2026. The last day to move for lead plaintiff is December 15, 2026.
The Early Optimism Behind D-Wave Investor Sentiment
The Class Period opened on a confident growth story. On February 26, 2026, the Company paired its year-end results with an outlook citing more than $30 million in January bookings, the acquisition of gate-model developer Quantum Circuits, Inc., and an eight-figure enterprise QCaaS agreement. By May 12, 2026, management was pointing to a record-setting $10 million QCaaS contract with a Fortune 100 company as evidence of expanding commercial adoption.
The complaint alleges these statements materially overstated D-Wave’s business and financial prospects. It further alleges that the overstatement was reasonably likely to harm the Company’s business and reputation.
The Sentiment Shift
- Growing concerns, August 6, 2026: Second quarter revenue arrived at $3.08 million. That figure was essentially flat against $3.1 million a year earlier and below analyst expectations of $4.03 million to $4.08 million.
- Momentum meets the top line: The flat result stood in sharp contrast to the bookings and contract milestones that had anchored the early optimism.
- The breaking point, August 25, 2026: The Company announced that its chief financial officer would retire and resign effective September 2, 2026. The announcement came less than three weeks after the revenue shortfall.
- A second jolt: Trading on August 26, 2026 delivered the month’s second high-single-digit percentage decline, compounding the earlier sell-off.
- Who is covered: Purchasers who bought into the growth narrative at any point from February 26 through August 25, 2026 fall within the proposed class.
Sentiment Arc and Investor Harm
“Investor confidence depends on receiving truthful information from the companies they invest in. The complaint alleges that D-Wave overstated its business and financial prospects in the months before reporting a $3.08 million second quarter, and shareholders who bought into that optimism may wish to review their options.” — Joseph E. Levi, Esq.
The lawsuit asserts that Class Period purchasers paid prices inflated by the alleged overstatements. It further asserts that they were damaged when the August disclosures reached the market.
Submit your information here or call (212) 363-7500.
WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until December 15, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the QBTS Lawsuit
Q: How much did QBTS stock drop? A: Shares reportedly fell $1.99 per share, or about 9.28%, to close at $19.41 on August 6, 2026, after revenue fell shy of analyst consensus for the quarter. The complaint asserts the stock fell a further $1.84 per share, or about 9.51%, to close at $17.51 on August 26, 2026, following the Company’s announcement that CFO Markovich would be retiring. Investors who purchased shares during the Class Period at allegedly artificially inflated prices and suffered losses may be eligible to seek compensation.
Q: What specific misstatements does the QBTS lawsuit allege? A: The complaint alleges D-Wave Quantum Inc. made materially false or misleading statements regarding its business and financial prospects, including its growth and operational momentum, during the Class Period. When the Company reported second quarter 2026 revenue of $3.08 million, short of analyst expectations of $4.03 million to $4.08 million, and later announced its chief financial officer’s retirement, the stock price declined sharply.
Q: When did D-Wave Quantum Inc. allegedly mislead investors? A: The Class Period runs from February 26, 2026 to August 25, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.
Q: What do QBTS investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.
Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.
Q: What if I already sold my QBTS shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What if my QBTS losses are small — is it still worth contacting a lawyer? A: Yes. There is no minimum loss amount required to participate as a class member.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it may still be able to participate in any potential settlement or recovery.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
