#United States #San Diego #Class Action #Robbins LLP #Quantum Computing

Robbins LLP Announces Class Action for Quantum Computing Inc.

On February 27, 2025, Robbins LLP notified investors of a class action lawsuit on behalf of individuals and entities that purchased securities of Quantum Computing Inc. (NASDAQ: QUBT) between March 30, 2020, and January 15, 2025. The lawsuit comes amid allegations that QCI misled its shareholders regarding its technological capabilities, business operations, and third-party transactions.

Background on Quantum Computing Inc.

Quantum Computing Inc. (QCI) claims to utilize nonlinear quantum optics to develop advanced products in high-performance computing. However, recent findings have raised serious questions about the integrity of their claims and the legitimacy of their business practices. The class action asserts that during the relevant period, the company overstated its technological advancements and relationships with major organizations like NASA.

Allegations of Misrepresentation

The allegations specify several key points:
1. Overstated Capabilities: The complaint states that QCI exaggerated the performance and potential of its quantum computing technologies and services.
2. Misleading NASA Relations: It is claimed that the company misrepresented its agreements and collaborations with NASA, inflating the nature of these relationships.
3. False Progress Reports: QCI allegedly provided misleading information about the development of its TFLN foundry, as well as the scale and volume of orders for its TFLN chips.
4. Undisclosed Related-Party Transactions: According to the lawsuit, the company's business dealings with Quad M and millionways were undisclosed related-party transactions, indicating that part of QCI’s revenues were based on non-transparent dealings.
5. Damaging Revelations: Once these truths came to light, they were expected to severely affect QCI’s business reputation and financial standing.

Impact on Shareholders

The situation worsened when on January 16, 2025, Capybara Research published a report outlining serious allegations against QCI. The report asserted that QCI had falsely depicted its ties to NASA and had manipulated its revenue through numerous related-party transactions. Furthermore, it was claimed that QCI had never acquired a five-acre location at ASU Research Park for the TFLN foundry, contrary to previous assertions by the company. Following the release of this information, QCI's stock plummeted by $1.72, representing a 14.89% decrease over two trading days, closing at $9.83 per share on January 17, 2025.

Next Steps for Shareholders

Shareholders who experienced losses during the class action period may be eligible to partake in the legal proceedings against Quantum Computing Inc. Those wishing to be recognized as lead plaintiffs must file their documents with the court by April 28, 2025. It’s essential to note that participation as a lead plaintiff is not a requirement for recovering losses, as non-active class members can still entitle themselves to any settlement outcomes.

Robbins LLP, renowned for advocating shareholder rights since 2002, operates on a contingency fee basis, meaning that shareholders are not required to pay any fees or costs to be represented in the class action lawsuit.

Conclusion

This class action underscores the ongoing concerns surrounding corporate accountability and transparency in the tech sector. For shareholders of Quantum Computing Inc., this represents not only a chance to seek justice but also a spotlight on the essential need for accurate disclosures from companies, especially those operating in innovative sectors like quantum computing.

For further information regarding the lawsuit or to receive updates about class actions, interested shareholders can contact Robbins LLP or visit their website to sign up for notifications. As business continues to evolve rapidly, the integrity of communications between companies and their investors remains crucial for maintaining trust and financial stability in the market.