RADNOR, Pa., March 14, 2025 (GLOBE NEWSWIRE) — Quantum Computing Inc. (NASDAQ:QUBT) is under legal scrutiny as Kessler Topaz Meltzer & Check, LLP (KTMC) has filed a securities class action lawsuit against the company in the United States District Court for the District of New Jersey. This lawsuit seeks to represent investors who acquired QCI securities between March 30, 2020, and January 15, 2025 (the “Class Period”). The deadline for lead plaintiff applications is April 28, 2025.
Allegations Against Quantum Computing Inc.
The lawsuit alleges that QCI engaged in misleading practices and failed to disclose critical information about its business operations and technological capabilities. The primary claims against the company include:
- Overstating Quantum Computing Capabilities – QCI allegedly exaggerated the effectiveness and readiness of its quantum computing technologies, products, and services.
- Misrepresentation of NASA Partnerships – The company reportedly overstated the nature and scope of its contracts and collaborations with NASA.
- Exaggerated Thin Film Lithium Niobate (TFLN) Foundry Development – QCI is accused of misleading investors about the progress and scale of its TFLN foundry, as well as demand for its TFLN chips.
- Undisclosed Related Party Transactions – The company allegedly engaged in undisclosed business dealings with two entities that qualified as related party transactions.
- Inflated Revenue Claims – QCI’s reported revenues were, at least in part, influenced by undisclosed related party transactions.
- Material Misstatements Impacting Business Reputation – The revelation of these issues has had a significant negative impact on the company’s reputation and business standing.
- Lack of Reasonable Basis for Positive Statements – The company’s optimistic projections and statements about its business operations allegedly lacked a factual basis.
Investors’ Legal Options
QCI investors who have suffered financial losses may seek to be appointed as lead plaintiffs by April 28, 2025. The lead plaintiff plays a critical role in representing the class in legal proceedings and selecting counsel to represent the case. However, investors who choose not to participate as lead plaintiffs may still be eligible for any potential financial recovery from the lawsuit.
How to Join the Lawsuit
Kessler Topaz Meltzer & Check, LLP urges affected investors to contact the firm to discuss their legal options. Investors can:
- Click here to submit their details.
- Call attorney Jonathan Naji, Esq. at (484) 270-1453.
- Email info@ktmc.com for further inquiries.
Potential Impact on QCI Shareholders
The outcome of this lawsuit could have significant implications for QCI’s stock price and business reputation. Investors and stakeholders should stay updated on legal developments and assess their next steps carefully.
Rigetti Computing’s CTO Sells Shares Amid Quantum Computing Market Developments
David Rivas, Chief Technology Officer at Rigetti Computing, Inc. (NASDAQ:RGTI), recently sold a substantial portion of his holdings. According to SEC filings, Rivas sold 275,000 shares on March 14, 2025, at an average price of $9.12, resulting in proceeds of approximately $2.5 million. Despite the sale, Rivas still holds 819,738 shares in the company. Rigetti’s stock has surged 926% in the last six months, currently trading at $11.22, though InvestingPro suggests it may be overvalued at these levels.
Rigetti Computing’s Financial Challenges and Strategic Moves
Rigetti Computing recently reported a disappointing Q4 2024 earnings miss, posting an EPS of – $0.68, far below the forecasted – $0.08. Revenues of $2.3 million also fell short of the expected $2.52 million. Despite financial setbacks, Rigetti remains committed to advancing quantum technology. The company recently launched its 84-qubit ANCA3 quantum system and announced a strategic collaboration with Quanta Computer Inc. to accelerate superconducting quantum computing research.
To strengthen its financial position, Rigetti raised $153.3 million through equity offerings, boosting its cash reserves to $217.2 million. The company aims to drive revenue growth in the coming years, capitalizing on its technological advancements.
D-Wave Quantum’s Competitive Progress
Meanwhile, D-Wave Quantum (NYSE:QBTS) recently exceeded revenue forecasts and announced groundbreaking research. A peer-reviewed study in Science demonstrated its quantum computer’s ability to outperform one of the world’s leading classical supercomputers. Following these developments, Needham analyst N. Quinn Bolton reaffirmed a Buy rating on D-Wave, citing its scientific progress and financial improvements.
As competition in the quantum computing sector intensifies, investors should closely monitor developments at Rigetti Computing and D-Wave Quantum to assess future opportunities and risks in this evolving industry.
