IonQ Deadline Alert
Jul 31st, 2022 8:21 EST
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In IonQ To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - July 31, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against IonQ, Inc. ("IonQ" or the "Company") (NYSE: IONQ) and reminds investors of the August 1, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in IonQ stock or options between March 30, 2021 and May 2, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/IONQ.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (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; (4) that a significant portion of IonQ's revenue was derived from improper round-tripping transactions with related parties; and (5) 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.
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 $0.71, or 9%, to close at $7.15 per share on May 3, 2022, on unusually heavy trading volume.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding IonQ's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132388
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