{"id":832758,"date":"2025-04-01T20:03:21","date_gmt":"2025-04-02T00:03:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-quantum-computing-inc-qubt\/"},"modified":"2025-04-01T20:03:21","modified_gmt":"2025-04-02T00:03:21","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-quantum-computing-inc-qubt","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-quantum-computing-inc-qubt\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Quantum Computing Inc. (QUBT)"},"content":{"rendered":"
\n

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Quantum Computing Inc. (\u201cQuantum Computing\u201d or the \u201cCompany\u201d) (NASDAQ: QUBT) securities between March 30, 2020 and January 15, 2025, inclusive (the \u201cClass Period\u201d).<\/p>\n

The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) defendants overstated the capabilities of Quantum Computing\u2019s quantum computing technologies, products, and\/or services; (ii) defendants overstated the scope and nature of Quantum Computing\u2019s relationship with the National Aeronautics and Space Administration (\u201cNASA\u201d), as well as the scope and nature of Quantum Computing\u2019s NASA-related contracts and\/or subcontracts; (iii) defendants overstated Quantum Computing\u2019s progress in developing a thin film lithium niobate (\u201cTFLN\u201d) foundry, the scale of the purported TFLN foundry, and orders for Quantum Computing\u2019s TFLN chips; (iv) Quantum Computing\u2019s business dealings with Quad M Solutions, Inc. and millionways, Inc. both qualified as related party transactions; (v) accordingly, Quantum Computing\u2019s revenues relied, at least in part, on undisclosed related party transactions; and (vi) all the above, once revealed, was likely to have a significant negative impact on Quantum Computing\u2019s business and reputation.<\/p>\n

The Complaint further alleges that on December 9, 2024, Iceberg Research published a report alleging, among other things, that Quantum Computing \u201cha[d] shared photos online of what it claims to be its foundry,\u201d \u201cthis setup looks more like a laboratory,\u201d and \u201cis a far cry from a foundry ready for \u2018mass production\u2019 on what [Quantum Computing] said would be \u2018five acres within the extensive 320-acre research park hosted by ASU.\u2019\u201d On this news, the price of Quantum Computing stock fell nearly 6%.<\/p>\n

Then, on January 16, 2025, Capybara Research published a report alleging, among other things, that Quantum Computing \u201cis a rampant fraud\u201d; that, \u201c[f]rom inception, [Quantum Computing] has defrauded investors by fabricating revenue, misrepresenting their products, and issuing a steady stream of false press releases\u201d; and that \u201c[t]o conceal their fraud, [Quantum Computing] even included a clause in employee separation agreements prohibiting them from talking to the SEC.\u201d On this news, the price of Quantum Computing stock fell nearly 15% over two trading sessions.<\/p>\n

Investors who purchased or otherwise acquired shares of Quantum Computing should contact the Firm prior to the April 16, 2025<\/em><\/strong> 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 tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, April 01, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Quantum Computing Inc. (\u201cQuantum Computing\u201d or the \u201cCompany\u201d) (NASDAQ: QUBT) securities between March 30, 2020 and January 15, 2025, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) defendants overstated the capabilities of Quantum Computing\u2019s quantum computing technologies, products, and\/or services; (ii) defendants overstated the scope and nature of Quantum Computing\u2019s relationship with the National Aeronautics and Space Administration (\u201cNASA\u201d), as well as … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Quantum Computing Inc. (QUBT)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-832758","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Quantum Computing Inc. 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