Class Action Filed Against Quantum Computing Inc. Over Securities Violations

Class Action Filed Against Quantum Computing Inc.

On March 31, 2025, the Pomerantz Law Firm announced the initiation of a class action lawsuit against Quantum Computing Inc. (referred to as 'QCI' or 'the Company') and some of its executives, as registered on NASDAQ under the ticker symbol QUBT. This lawsuit has been filed in the United States District Court for the District of New Jersey and is designated under docket number 25-cv-01457. The lawsuit represents a group of investors who acquired QCI's securities between March 30, 2020, and January 15, 2025, during what is described as the 'Class Period.' The plaintiffs in this case are seeking damages for alleged violations of federal securities laws perpetrated by the Company and specific individuals involved in its operations.

Key Details of the Lawsuit

The complaint accuses QCI and its officers of making materially false and misleading statements regarding the Company's business operations, prospects, and the nature of its relationships with various entities, including NASA and other partners. The issues stem from claims that QCI exaggerated its technological capabilities and misrepresented its business dealings with significant companies and organizations, thereby misleading investors.

The plaintiffs aim to recover damages resulting from these allegedly misleading statements and seek remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated under that Act. Investors who acquired QCI’s securities during the stated period are encouraged to contact the firm by April 28, 2025, to possibly serve as Lead Plaintiff in this class action.

Background on Quantum Computing Inc.

Founded in 2018, QCI has navigated a fluctuating technology landscape, shifting its focus from quantum-computer-ready software services to the commercialization of quantum photonic technology and related applications in artificial intelligence. In 2023, the Company had identified a location in Tempe, Arizona, for its 'Quantum Photonic Chip Foundry,' aiming to mass-produce TFLN chips by late 2024 or early 2025. Despite these aspirations, analysts began to question the validity of QCI's claimed progress.

Concerns heightened in late 2024 when Iceberg Research released reports alleging that QCI's claims about its foundry and ongoing contracts, especially with NASA, were exaggerated or unfounded. These reports pointed to a lack of tangible evidence backing QCI's assertions and drew attention to several concerning financial practices involving related parties such as Quad M Solutions and millionways, Inc.

Deterioration of Trust and Stock Decline

As revelations about QCI's operations and alleged misstatements unfolded, the Company experienced a significant drop in stock value. Following negative reports, QCI's stock price declined by as much as $1.72 per share by January 2025, contributing to concerns over the overall integrity of the Company’s reported metrics and the viability of its business model.

Pomerantz Law Firm's Role

Pomerantz LLP is widely recognized for its expertise in corporate, securities, and antitrust litigation, and it has a longstanding history of advocating for investors in securities fraud cases. The firm, which boasts offices in key global cities, has recovered billions for class members in past class actions. The current action against QCI reflects their commitment to advocating for the rights of investors in the face of corporate misconduct and misrepresentation.

For more details about the class action or to check eligibility, investors are advised to visit Pomerantz’s website or contact their office directly. This situation underscores the ongoing importance of transparency and accountability among technology firms, especially as they navigate the complex and often speculative nature of emerging sectors like quantum computing.

For further inquiries regarding this case, potential class members can contact Danielle Peyton at [email protected] or call 646-581-9980, providing their contact details and information on any shares purchased.