BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ) securities between March 30, 2021 and May 2, 2022, inclusive (the “Class Period”). IonQ investors have until August 1, 2022 to file a lead plaintiff motion.
Investors suffering losses on their IonQ investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
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 complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that IonQ had not yet developed a 32-qubit quantum computer; (2) that the Company’s…
