#United States #New York #Class Action #Securities Laws #Quantum Computing Inc

Pomerantz Law Firm Initiates Class Action Against Quantum Computing Inc.

On April 28, 2025, Pomerantz LLP, a leading law firm based in New York, announced the filing of a class action lawsuit against Quantum Computing Inc. (NASDAQ: QUBT) and certain of its top officers, reflecting concerns over possible violations of federal securities laws. This legal action was officially submitted to the United States District Court for the District of New Jersey and registered under docket number 25-cv-01457.

Background of the Class Action

The lawsuit represents a class comprising all individuals and entities, excluding the defendants, who purchased or otherwise acquired QCI securities between March 30, 2020, and January 15, 2025, a period termed the "Class Period." The plaintiffs seek to recover damages resulting from alleged misconduct by the defendants, which included misleading statements about QCI's business operations, financial performance, and its high-profile technological partnerships, including one with NASA.

As per the law firm's announcement, if you invested in QCI securities during the specified period, you have until April 28, 2025, to apply for appointment as Lead Plaintiff. Interested parties can access the full complaint at Pomerantz Law Firm's website.

Overview of Quantum Computing Inc.

Quantum Computing Inc. is recognized for its attempts to make advancements in quantum technology applications. Founded in 2018, the company has undergone several strategic shifts, moving from providing quantum computer-ready software to developing quantum photonic technology and TFLN quantum computing chips.

In September 2023, QCI announced plans to establish a "Quantum Photonic Chip Foundry" at Arizona State University's Research Park, signaling an ambitious effort to produce TFLN chips, with expectations of mass production by the end of 2024 or early 2025.

Allegations of Misconduct

However, the lawsuit claims that throughout the Class Period, the company and its executives made various false and misleading statements regarding its capabilities and the nature of its contracts, particularly with NASA and other significant partnerships. Specific allegations suggest:

• - QCI exaggerated its technological capabilities in quantum computing.
• - The nature of its relationship with NASA was overstated, including its related contracts and the progress made on the TFLN foundry.
• - There were undisclosed related-party transactions affecting QCI's reported revenues, which compromised the transparency of its financial disclosures.

On November 27, 2024, a report by Iceberg Research alleged that QCI’s promotional claims regarding its foundry were misleading. This was followed by market reactions that saw QCI's stock price plummet significantly as further revelations emerged from subsequent investigations and reports.

Market Impact

On January 16, 2025, another shocking report from Capybara Research accused QCI of fabricating revenues through dubious transactions, including false claims of associated partnerships. Consequently, QCI’s stock price faced a striking decline shortly after this information came to light, reflecting investors' diminishing confidence in the company's market standards.

Pomerantz's Role

Pomerantz LLP, established by renowned class-action expert Abraham L. Pomerantz, has a history of representing investors in securities fraud cases and has successfully secured billions for victims. This lawsuit against QCI highlights the firm’s commitment to protecting shareholders' interests and ensuring accountability in corporate conduct.

Investors who believe they may have been misled or financially affected over the Class Period are encouraged to seek counsel and consider joining the lawsuit. More details can be found on the Pomerantz website or by contacting their offices directly.

In summary, the legal developments surrounding Quantum Computing Inc. are a vivid reminder of the complexities and risks within the modern investment landscape, particularly in emerging technology sectors like quantum computing.