#United States #New Jersey #Pomerantz LLP #QCi #Quantum Computing Inc

Class Action Lawsuit Filed Against Quantum Computing Inc.

Introduction
On April 8, 2025, the Pomerantz Law Firm revealed that it has filed a class action lawsuit against Quantum Computing Inc. (QCI), along with some of its officers, in the United States District Court for the District of New Jersey. This lawsuit, docketed under 25-cv-01457, seeks to represent all individuals and entities that purchased QCI securities between March 30, 2020, and January 15, 2025. The primary goal is to recover damages attributed to alleged violations of federal securities laws by QCI's executives.

Details of the Lawsuit
The class action centers on claims that QCI misled investors regarding its business capabilities, operational achievements, and the authenticity of its partnerships, particularly with major organizations such as NASA. Throughout the class period, QCI's executives reportedly made numerous affirmations about the company’s contracts and technological advancements that later proved to be exaggerated or misleading. These misstatements are said to have significantly affected the company’s stock value and investor trust.

Quantum Computing Inc.: A Brief Overview
Founded in 2018, QCI has undergone several strategic pivots, consistently realigning its focus with current technology trends. Initially, the company concentrated on quantum-computer-ready software services and has since shifted toward commercializing quantum photonic technology and integrating it with artificial intelligence applications. Recently, QCI announced a new manufacturing site for its thin film lithium niobate (TFLN) quantum computing chips in Arizona State University’s Research Park, claiming it would commence mass production by late 2024.

The Allegations
The lawsuit alleges that QCI's executives misrepresented their relationships with significant partners and the actual capabilities of QCI's quantum technologies. They falsely emphasized their collaborations, especially with NASA, and claimed that their technological innovations were on the verge of extensive commercialization. Furthermore, the complaint contends that these misrepresentations extended to overstated contracts with staffing solutions firms and other partnerships.

Key allegations within the lawsuit include:
1. Exaggerated Technological Capabilities: Executives allegedly overstated the effectiveness of QCI's quantum technologies, leading investors to believe in unrealistic potentials.
2. Misleading Partnerships: The company reportedly misrepresented the depth of its involvement with NASA, overstating the nature and scope of their contracts.
3. Inflated Manufacturing Claim: QCI's statements regarding its TFLN foundry and its progress have been described as misleading, with doubts raised about whether QCI even owns the manufacturing site it claims.
4. Related-party Transactions: Claims suggest that certain partnerships, particularly with Quad M Solutions and millionways, were not disclosed properly, leading to conflicts of interest and misleading revenue disclosures.

Impact of Iceberg Research Report
The allegations intensified following two critical reports released by Iceberg Research in late 2024. The first report, published on November 27, claimed that QCI's announcements about its TFLN foundry and purchase orders were misleading. The second report published on December 9 indicated that the facilities were not ready for mass production, contradicting the company's public statements.

In response to these revelations, QCI's stock price dropped significantly. On December 9, the stock fell by 5.8%, and further declined by nearly 15% following reports from Capybara Research, which accused QCI of fabricating connections with NASA and inflating revenues through questionable transactions.

Conclusion
With Pomerantz LLP at the helm, the class action lawsuit against Quantum Computing Inc. is a pivotal case that will evaluate the responsibilities of officers regarding transparency and honesty towards investors. As the company faces these serious allegations, its future trajectory and credibility in the quantum computing industry hang in the balance. Investors who believe they have been affected by these purported misstatements are urged to consider joining the lawsuit, with details available from Pomerantz LLP’s website. This case serves as a significant reminder of the necessity for corporate honesty and the potential consequences of misleading investors in today's competitive technology marketplace.