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

Investor Alert: Class Action Lawsuit Filed Against Quantum Corporation

Pomerantz LLP, a nationally recognized law firm known for its work in class action litigation, has filed a class action lawsuit against Quantum Corporation (NASDAQ: QMCO). This legal action is particularly significant for investors who have suffered losses during their investment in Quantum securities. Those impacted are being urged to act promptly as they only have until November 3, 2025, to request appointment as Lead Plaintiff in this case.

Background of the Case

The lawsuit revolves around claims that Quantum Corporation, along with certain executives and board members, may have engaged in securities fraud or other illegal business practices. This follows a series of troubling disclosures from the company concerning their financial statements and revenue recognition practices.

In its regulatory filing to the U.S. Securities and Exchange Commission (SEC) on June 30, 2025, Quantum announced it would delay its Annual Report, citing ongoing reviews of its revenue recognition accounting methods. In the wake of this announcement, the stock's value dropped by over 10%, closing at $8.97 per share on July 1, 2025.

The situation worsened for Quantum investors when, on August 8, 2025, the company revealed that its financial results for the third quarter of 2024 could not be relied upon and would need to be restated, reflecting a significant decrease of approximately $3.9 million in revenue. The stock continued to plummet, dropping to $7.43 per share shortly after this announcement.

Adding to the turmoil, on August 18, Quantum's Chief Financial Officer, Lewis Moorehead, resigned amid an ongoing internal review of accounting practices, further contributing to investor concern and confidence erosion. Following this news, the company's stock saw another decline, falling to $6.83 per share on August 19.

What Investors Should Do

Investors who believe they have a valid claim as part of this class action should reach out to the Pomerantz Law Firm. Interested parties are encouraged to contact attorney Danielle Peyton via email at [email protected] or call 646-581-9980, extension 7980. When contacting, investors should include their mailing address, phone number, and the number of shares purchased.

A copy of the Complaint detailing the allegations can be accessed on the Pomerantz Law Firm's website, which is available for further investigation by affected investors. This lawsuit reflects the firm’s enduring commitment to protecting the rights of investors and holding companies accountable for breaches of fiduciary duty and securities fraud.

About Pomerantz LLP

Pomerantz LLP is recognized as one of the leading firms specializing in corporate, securities, and antitrust class action litigation throughout the United States and globally. Founded by Abraham L. Pomerantz, a pioneer in the class action field, the firm continues to operate within his legacy, advocating for victims of corporate misconduct. Over its long history, Pomerantz has secured substantial damages for its clients, showcasing its expertise and commitment to justice in the securities marketplace.

Conclusion

With the deadline for lead plaintiff applications fast approaching, it is crucial for affected investors in Quantum Corporation to act swiftly. The implications of this lawsuit could be significant, not only for Quantum’s executives but also for its investors, as scrutiny of their business practices continues to escalate. The developments in this case serve as an important reminder for investors to remain vigilant regarding company disclosures and potential legal actions.

For anyone needing further information about the case or the claims process, Pomerantz Law Firm is prepared to assist in navigating the complexities of this class action lawsuit.