1. Quantum Computing Inc. faces investigation for alleged fiduciary breaches. 2. Class action claims misleading statements about technology and relationships. 3. Alleged overstatement of QCI's contract scope with NASA highlighted. 4. Legal actions may impact QUBT's reputation and market position. 5. Disclosure of related party transactions could affect revenue perceptions.
The allegations suggest significant misrepresentation, potentially leading to financial and reputational damage. Past examples include companies like Theranos, which faced similar accusations leading to drastic stock declines.
The article discusses potential serious allegations against QCI, significantly affecting investor confidence. The revealing nature of shareholder complaints heightens the urgency and relevance.
Immediate legal concerns can affect stock price and investor sentiment quickly. Historical cases show that news of legal action often leads to short-term volatility.
SAN DIEGO--(BUSINESS WIRE)-- Johnson Fistel, PLLP, a shareholder rights law firm, announces it is investigating potential breaches of fiduciary duties by certain directors and officers of Quantum Computing Inc. (NASDAQ: QUBT) (“QCI” or “the Company”) in relation to their obligations to the company's shareholders.
If you are a current long-term QCI shareholder, you may have legal claims that may be brought on behalf of the company, against the company’s directors and officers.
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What can I do? If you are a current long-term QCI shareholder, you may have legal claims that may be brought on behalf of the company, against the company’s directors and officers. If you wish to discuss this notice or your legal rights, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
If you have continuously owned QCI shares, you can click or copy and paste the link below in a browser to join:
https://www.cognitoforms.com/JohnsonFistel/QuantumComputingInc
What is this about? Recently a class action complaint was filed against QCI alleging 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.
About Johnson Fistel, PLLP: Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Colorado, and Idaho. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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