SAN DIEGO, July 22, 2022 (WORLD NEWS CABLE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of IonQ, Inc. IONQ IONQ/WS securities))) between March 30, 2021 and May 2, 2022, inclusive (the “Class Period”) have until Monday, August 1, 2022 to seek appointment as lead plaintiff in Leacock v. IonQ, Inc., No. 22-cv-01306 (D.Md.). the IonQ class action lawsuit accuses IonQ and some of its top executive officers of violations of the Securities Exchange Act of 1934. A similar lawsuit, Fisher v. IonQ, Inc.No. 22-cv-01536, is also pending in the District of Maryland.
If you suffered substantial losses and wish to act as a lead plaintiff, please provide your information here:
ALLEGATIONS OF THE CASE: IonQ claims to “build the world’s best quantum computers to solve the world’s most complex problems.” On or about September 30, 2021, IonQ became a public entity through a business combination with dMY Technology Group, Inc. III (“DTG”), a special purpose acquisition company (“SPAC” or “company”). blank checks”).
the IonQ the class action alleges that, during the Class Period, the defendants made false and misleading statements and failed to disclose that: (i) IonQ had not yet developed a 32-qubit quantum computer; (ii) IonQ’s 11-qubit quantum computer suffered from significant error rates, rendering it useless; (iii) IonQ’s quantum computer is not reliable enough so it is not accessible despite being available through major cloud providers; (iv) a significant portion of IonQ’s revenue was derived from improper round-trip transactions with related parties; and (v) as a result, Defendants’ positive statements about IonQ’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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On May 3, 2022, Scorpion Capital released an investigative report alleging, among other things, that IonQ is a “scam based on false statements about nearly every key aspect of technology and business.” He further stated that IonQ reported “[f]fictitious ‘earnings’ through bogus transactions and related party round trips”. In this news, IonQ’s Values the price fell about 9%, hurting investors.
Robbins Geller has released a dedicated SPAC working group to protect investors in companies from blank checks and seek redress for corporate malfeasance. Comprised of experienced litigators, investigators, and forensic accountants, the SPAC task force is dedicated to eradicating and prosecuting fraud on behalf of injured SPAC investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased IonQ securities during the Class Period to apply for appointment as lead plaintiff. A lead plaintiff is generally the plaintiff with the greatest financial interest in the relief sought by the putative class that is also typical and proper of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked No. 1 in the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone, more than triple the amount recovered by any other plaintiff firm . With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest class action recovery of values in history: $7.2 billion. in In re Enron Corp. Sec. Litigation Please visit the following page for more information:
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