1. Johnson Fistel is investigating QCI's directors for fiduciary duty breaches. 2. Recent class action alleges QCI misrepresented technology and contracts. 3. Claims include overstating NASA relationships and financial transactions. 4. Revelations may significantly harm QCI's reputation and business. 5. Investors may have legal claims due to misleading statements.
The investigation and allegations against QCI suggest a potential loss of investor confidence, similar to past cases like ZNGA's controversies that resulted in sharp price declines.
The lawsuit's serious nature and widespread implications on QCI's credibility and future earnings elevate its importance significantly.
Immediate market responses to legal issues often lead to rapid price reactions, as seen with other firms facing class action lawsuits.
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.
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
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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.johnsonfistel.com/investigations/quantum-computing-inc
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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