IONQ Investors Have Opportunity to Lead IonQ, Inc. Securities Fraud Lawsuit
Jul 28th, 2022 11:00 EST
LOS ANGELES, July 28, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against IonQ, Inc. ("IonQ" or the "Company") (NYSE: IONQ).
Class Period: March 30, 2021 – May 2, 2022 Lead Plaintiff Deadline: August 1, 2022
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (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.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE The Law Offices of Frank R. Cruz, Los Angeles