NEW YORK, Sept. 8, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Quantum Corporation ("Quantum" or the "Company")(NASDAQ:QMCO). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Quantum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until November 3, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Quantum securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On June 30, 2025, Quantum disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that it would postpone the filing of its Annual Report because it was in the process of reviewing its revenue recognition accounting practices.
On this news, Quantum's stock price fell $1.00 per share, or 10.03%, to close at $8.97 per share on July 1, 2025.
Then, on August 8, 2025, Quantum filed a report with the SEC, announcing that the Company's financials for the third quarter of 2024 could not be relied upon and would be restated to show a new decrease of approximately $3.9 million in revenue, and that there were deficiencies in the Company's internal control over financial reporting and the Company's disclosure controls and procedures that constituted material weaknesses as of December 31, 2024 and March 31, 2025.
On this news, Quantum's stock price fell $0.14 per share, or 1.85%, to close at $7.43 per share on August 11, 2025.
Finally, on August 18, 2025, Quantum announced the resignation of its Chief Financial Officer Lewis Moorehead amid an internal accounting review related to its revenue recognition practices.
On this news, Quantum's stock price fell $0.61 per share, or 8.2%, to close at $6.83 per share on August 19, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
