SECURITIES FRAUD CLASS ACTIONS SURVIVE MOTIONS TO DISMISS: Grabar Law Office Investigates Claims on Behalf of Shareholders of Arqit Quantum Inc. (NASDAQ: ARQQ); Axsome Therapeutics, Inc. (NASDAQ: AXSM); BioVie Inc. (NASDAQ: BIVI); and Maison Solutions

April 04, 2025 at 08:34 AM EDT

PHILADELPHIA, April 04, 2025 (GLOBE NEWSWIRE) --

Arqit Quantum Inc. (NASDAQ: ARQQ) Class Action Survives Motion to Dismiss:

Grabar Law Office is investigating claims on behalf of shareholders of Arqit Quantum, Inc. (NASDAQ: ARQQ) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you are a current Arqit (NASDAQ: ARQQ) shareholder who purchased or acquired Arqit shares via the Centricus merger, or on or close to September 7, 2021, and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/arqit-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or call us at 267-507-6085

WHY?: An underlying securities fraud class action Complaint alleges that Arqit (NASDAQ: ARQQ), through certain of its officers, made false and/or misleading statements and/or failed to disclose: (1) Arqit's proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit's proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 28, 2025, the Court issued an Order denying Defendants' Motion to Dismiss.

WHAT YOU CAN DO NOW: If you purchased or acquired Arqit (NASDAQ: ARQQ) shares via the Centricus merger, or on or close to September 7, 2021, and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/arqit-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. $ARQQ #Arqit

Axsome Therapeutics Inc. (NASDAQ: AXSM) Class Action Survives Motion to Dismiss:

Grabar Law Office is investigating claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you are a current Axsome (NASDAQ: AXSM) shareholder who purchased Axsome shares on prior to May 10, 2021 and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/axsome-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085

WHY?: An underlying securities fraud class action complaint alleges that Axsome Therapeutics (NASDAQ: AXSM), via certain of its officers, made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Axsome’s chemistry, manufacturing, and control ("CMC") practices were deficient with respect to AXS-07 and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 NDA on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the FDA reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07’s regulatory and commercial prospects; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On March 31, 2025, the Court issued an Order denying Axsome's Motion to Dismiss. In doing so the court determined that the operative complaint sufficiently pleads material misrepresentations or omissions regarding two categories of statements: (1) Defendants’ statements that the manufacturing facility and suppliers for AXS-07 were not experiencing problems and (2) Defendants’ statements about AXS-07’s NDA. $AXSM #Axsome

WHAT YOU CAN DO NOW: If you purchased Axsome Therapeutics (NASDAQ: AXSM) prior to May 10, 2021 and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/axsome-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

BioVie Inc. (NASDAQ: BIVI) Class Action Survives Motion to Dismiss:

Grabar Law Office is investigating claims on behalf of shareholders of BioVie Inc. (NASDAQ: BIVI) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you are a current BioVie (NASDAQ: BIVI) shareholder who purchased BioVie shares on prior to December 7, 2022 and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/biovie-shareholder-investigation/ contact Joshua Grabar at jgrabar@grabarlaw.com or call us at 267-507-6085.

Why? On August 5, 2021, BioVie announced in a Form 8-K filed with the SEC the enrollment of the first patient in its Phase 3 study of NE3107 in Alzheimer’s Disease.

An underlying securities fraud class action complaint has survived a motion to dismiss. According to that complaint, BioVie Inc. (NASDAQ: BIVI), through certain of its officers, made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants misled investors by failing to disclose that (1) BioVie was not conducting proper oversight of its Phase 3 clinical trial; (2) that the COVID-19 pandemic significantly and negatively impacted the Company’s ability to adequately conduct proper oversight of the Phase 3 clinical trial; (3) that due to lack of proper oversight and reliance on contract research organizations, the data from Defendants’ Phase 3 clinical trial faced a greater risk of being unreliable and that the majority of patients would have to be excluded from the clinical trial; (4) that, as a result of the significant exclusions from the trial results, the Phase 3 clinical trial would fail to meet its primary endpoints; and (5) statements about BioVie’s business, operations, prospects, and compliance with current good clinical practices were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

On March 27, 2025, the Court issued an Order denying Defendants' Motion to Dismiss. In so doing, the Court noted that “that a compelling inference that Individual Defendants acted with minimum deliberate recklessness is at least as strong as an opposing inference of good faith.”

WHAT YOU CAN DO NOW: If you purchased BioVie (NASDAQ: BIVI) prior to December 7, 2022 and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/biovie-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. #BioVie $BIVI

Maison Solutions Inc. (NASDAQ: MSS) Class Action Survives Motion to Dismiss:

Grabar Law Office is investigating claims on behalf of shareholders of Maison Solutions Inc. (NASDAQ: MSS) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you are a current Maison Solutions Inc. (NASDAQ: MSS) shareholder who purchased Maison shares on or near its October 5, 2023 IPO and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/maison-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or call us at 267-507-6085

WHY? On October 5, 2023, the Maison Solutions filed its prospectus on Form 424B4 with the SEC, which forms part of the Registration Statement. In the IPO, the Company sold 2,500,000 shares of Class A common stock at a price of $4.00 per share. The Company received net proceeds of approximately $10 million from the Offering.

On December 15, 2023, at approximately 2:30 p.m. Eastern Standard Time, Hindenburg Research published a report about Maison, alleging a number of “red flags” concerning potentially illegal activities.

An underlying securities fraud class action complaint alleges that in the Registration Statement and throughout the Class Period (October 5, 2023 through December 15, 2023), Maison, through certain of its officers, made materially false and/or misleading statements, including failing to disclose to investors: (1) that the Company’s vendor XHJC Holdings Inc., is a related party; (2) that the Company’s CEO and related entities were alleged to have used supermarkets as a front to defraud the EB-5 visa program; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 31, 2025, material portions of the underlying complaint survived a motion to dismiss.

WHAT YOU CAN DO NOW: If you purchased Maison Solutions Inc. (NASDAQ: MSS) on or near its October 5, 2023 IPO and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/maison-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. $MSS #MaisonSolutions

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com