#USA #New York #Securities Fraud #Pomerantz LLP #Quantum Corporation

Investor Alert: Class Action Lawsuit Against Quantum Corporation

In an official announcement, Pomerantz LLP, a well-respected law firm specializing in class action lawsuits, has informed investors of a recent development concerning Quantum Corporation (NASDAQ: QMCO). The firm is currently leading a class action lawsuit against Quantum, focusing on allegations of securities fraud and other questionable business practices carried out by the company and certain associated officers and directors.

Key Details of the Lawsuit

Investors who have incurred losses due to their investments in Quantum are strongly encouraged to contact Danielle Peyton at Pomerantz for assistance. Interested parties can reach out via email at [email protected] or by phone at 646-581-9980, or toll-free at 888.4-POMLAW, Extension 7980. When contacting the firm, investors are advised to provide pertinent details including their mailing address, contact number, and the number of shares acquired.

The class action is particularly focused on the time frame during which Quantum’s stock experienced significant volatility—specifically from June 30, 2025, through recent disclosures. Investors have until November 3, 2025, to initiate the process to become the Lead Plaintiff in the lawsuit. Full information regarding the complaint can be accessed at Pomerantz's website.

Timeline of Events

The situation escalated on June 30, 2025, when Quantum announced to the U.S. Securities and Exchange Commission (SEC) that it would delay the submission of its Annual Report. This delay was attributed to an ongoing review concerning the company's revenue recognition accounting practices. Following this announcement, Quantum’s stock price saw a significant decline, dropping $1.00 per share—a staggering 10.03%—to close at $8.97 on July 1, 2025.

Subsequently, on August 8, 2025, the company issued another report stating that its financial results for the third quarter of 2024 could not be trusted. Quantum disclosed a substantial restatement of approximately $3.9 million in revenue, along with identified deficiencies in its internal controls related to financial reporting practices. This news further impacted investor confidence and resulted in a decline of $0.14 per share, or 1.85%, closing at $7.43 on August 11, 2025.

On August 18, an unexpected development occurred with the resignation of Quantum’s Chief Financial Officer, Lewis Moorehead, amid ongoing scrutiny of the company’s accounting methods. Following this news, the stock price dropped even more, closing at $6.83 on August 19, 2025—a decrease of 8.2% after losing $0.61 per share.

About Pomerantz LLP

Founded by the late Abraham L. Pomerantz, a pioneer in securities class actions, Pomerantz LLP has become a highly regarded firm in the legal landscape, recognized for its unwavering commitment to investor rights. With offices spanning New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, the firm specializes in corporate, securities, and antitrust class action litigation. Pomerantz has a history of recovering multi-million dollar damages for class victims, emphasizing their strategy of fighting against securities fraud and corporate misdeeds.

In conclusion, Quantum Corporation investors are urged to engage with Pomerantz LLP as the class action lawsuit unfolds. The timeline ahead is critical, and proactive steps can ensure that investors’ voices are heard during this challenging period.

For investors seeking further information and guidance, please refer to the contact details provided above.