Deadline Soon: Quantum Computing Inc. (QUBT) Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit

By: The Law Offices of Frank R. Cruz via Business Wire

April 25, 2025 at 19:15 PM EDT

The Law Offices of Frank R. Cruz reminds investors of the upcoming April 28, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Quantum Computing Inc. ("Quantum Computing" or the Company") (NASDAQ: QUBT) securities between March 30, 2020 and January 15, 2025, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO LOST MONEY ON QUANTUM COMPUTING (QUBT), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.

What Happened?

On November 27, 2024, Iceberg Research published a report alleging, among other things, that QCI’s statements regarding its thin film lithium niobate (“TFLN”) foundry, as well as purchase orders for TFLN quantum computing chips, were a sham. On December 9, 2024, Iceberg Research published another report, stating that the photos that QCI had share of “what it claim[ed] to be its foundry . . . look[ed] more like a laboratory” and was “a far cry from a foundry ready for ‘mass production.’”

On this news, QCI’s stock price fell $0.46, or 5.8%, to close at $7.47 per share on December 9, 2024, thereby injuring investors.

Then, on January 16, 2025, Capybara Research published a report alleging, among other things, that QCI had overstated its ties to NASA and had fabricated revenues through multiple related-party transactions. The report further alleged that QCI’s products were fake, that it was pumping its stock price with false and misleading press releases, and that the Company had never purchased the five-acre parcel at Arizona State University’s Research Park for its TFLN foundry, as it had claimed it would.

On this news, QCI’s stock price fell $1.72, or 14.9%, over two consecutive trading days to close at $9.83 per share on January 17, 2025, thereby injuring investors further.

What Is The Lawsuit About?

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) Defendants overstated the capabilities of QCI’s quantum computing technologies, products, and/or services; (2) Defendants overstated the scope and nature of QCI’s relationship with NASA, as well as the scope and nature of QCI’s NASA-related contracts and/or subcontracts; (3) Defendants overstated QCI’s progress in developing a TFLN foundry, the scale of the purported TFLN foundry, and orders for the Company’s TFLN chips; (4) QCI’s business dealings with Quad M Solutions, Inc. and millionways, Inc. both qualified as related party transactions; (5) accordingly, QCI’s revenues relied, at least in part, on undisclosed related party transactions; (6) all the foregoing, once revealed, was likely to have a significant negative impact on QCI’s business and reputation; and (7) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired Quantum Computing securities between March 30, 2020 and January 15, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is April 28, 2025.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:

Frank R. Cruz

The Law Offices of Frank R. Cruz,

2121 Avenue of the Stars, Suite 800,

Century City, California 90067

Email us at: info@frankcruzlaw.com

Call us at: 310-914-5007

Visit our website at www.frankcruzlaw.com

Follow us for updates on Twitter: twitter.com/FRC_LAW

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.