A lawsuit was filed on behalf of investors in IonQ, Inc. (NYSE:IONQ) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/14/2022 -- An investor, who purchased NYSE: IONQ shares, filed a lawsuit against IonQ, Inc over alleged Securities Laws violations.
Investors who purchased shares of IonQ, Inc. (NYSE: IONQ) have certain options and for certain investors are short and strict deadlines running. Deadline: August 1, 2022. NYSE: IONQ investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
College Park, MD based IonQ, Inc. engages in the development of general-purpose quantum computing systems. On May 3, 2022, Scorpion Capital released a 183-page short report regarding IonQ's management, operations, and business. The Scorpion Capital report stated that "We conducted 25 research interviews including 7 former employees and executives; 11 leading quantum computing experts including seminal names in the field, some who have published papers with IonQ's founders and are intimately familiar with its technology; and 5 of its key "customers" and partners. We believe our research represents the most in-depth due diligence to date on IonQ, leading us to conclude it is just another VC-backed SPAC scam."
Shares of IonQ, Inc. (NYSE: IONQ) declined from $17.66 per share on February 14, 2022, to as low as $4.50 per share on June 13, 2022.
The plaintiff claims that between March 30, 2021 and May 2, 2022, the Defendants failed to disclose to investors that IonQ had not yet developed a 32-qubit quantum computer, that the Company's 11-qubit quantum computer suffered from significant error rates, rendering it useless, that IonQ's quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers, that a significant portion of IonQ's revenue was derived from improper round-tripping transactions with related parties, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of IonQ, Inc. (NYSE: IONQ) have certain options and should contact the Shareholders Foundation.
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