#United States #New York #class action lawsuit #Pomerantz LLP #Quantum Corporation

Investor Alert: Class Action Lawsuit against Quantum Corporation

Pomerantz LLP has announced that a legal action has been initiated against Quantum Corporation (NASDAQ: QMCO), highlighting the urgency for investors who have incurred losses due to alleged securities fraud. This class action lawsuit, now in motion, addresses claims that executives and directors of Quantum may have engaged in dubious business practices affecting stockholder interests.

Timeline of Events

On June 30, 2025, Quantum made headlines after it postponed its Annual Report filing with the U.S. Securities and Exchange Commission (SEC). The firm disclosed that it was reviewing its revenue recognition accounting practices, prompting investor concern. This announcement led to a significant 10.03% decrease in the company's stock price, which fell to $8.97 per share the following day.

As if that were not enough, on August 8, 2025, Quantum revealed that its financial reports for the third quarter of 2024 were unreliable and would need rectification, indicating an approximate revenue decrease of $3.9 million. The company's internal controls over financial reporting were also flagged as deficient. This news further impacted investor confidence, causing another drop in the stock price to $7.43 per share by August 11, 2025.

More turmoil followed when, on August 18, 2025, Quantum announced the resignation of its Chief Financial Officer, Lewis Moorehead. This decision was connected to an internal review of the company's revenue recognition practices. As a result, Quantum's market value deteriorated yet again, with shares closing at $6.83 the next day—a decline of 8.2%.

What Affected Investors Should Do

The announcement from Pomerantz LLP encourages investors who have forfeited money on their investments in Quantum Corporation to contact them. Their legal team is prepared to guide potential claimants on how to join the class action lawsuit, with a notable deadline of November 3, 2025, for those who wish to be appointed as Lead Plaintiff. Interested parties can reach out to Danielle Peyton at Pomerantz LLP via email or phone, providing necessary details regarding their investment.

This scenario illustrates the critical nature of compliance in corporate governance and the importance of transparency in financial reporting. Investors are advised to stay informed about their rights and the ongoing developments surrounding this case.

About Pomerantz LLP

Founded over 85 years ago by the late Abraham L. Pomerantz, widely regarded as a pioneer in the field of class-action litigation, Pomerantz LLP continues to fight for victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The firm has successfully recovered significant damages for class members, establishing itself as a leader in corporate, securities, and antitrust class actions. For further details about the class action or to obtain a copy of the complaint, visit Pomerantz's Website.

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