IONQ, INC. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ) securities between March 30, 2021 and May 2, 2022, inclusive. The lawsuit seeks to recover IonQ shareholders’ investment losses.
If you purchased securities in IonQ, Inc. between March 30, 2021 and May 2, 2022, inclusive, and would like to discuss your legal rights and/or options, please click “Join Class Action” above.
IonQ claims to “develop quantum computers designed to solve the world’s most complex problems.” On or about September 30, 2021, IonQ became a public entity via a business combination with dMY Technology Group, Inc. III (“DTG”), a special purpose acquisition company.
Plaintiff alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that IonQ had not yet developed a 32-qubit quantum computer; (2) that the Company’s 11-qubit quantum computer suffered from significant error rates, rendering it useless; (3) that IonQ’s quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers; and (4) that a significant portion of IonQ’s revenue was derived from improper roundtripping transactions with related parties.
On May 3, 2022, Scorpion Capital released a research report alleging, among other things, that IonQ is a “scam built on phony statements about nearly all key aspects of the technology and business.” It further claimed that the Company’ reported “[f]ictitious ‘revenue’ via sham transactions and related-party round-tripping.”
On this news, the Company’s stock fell 9% to close at $7.15 per share on May 3, 2022.
If you wish to serve as lead plaintiff, you must move the Court no later than August 1, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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