NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ) in the United States District Court for the District of Maryland on behalf of all persons and entities who purchased or otherwise acquired IonQ securities between March 20, 2021 and May 2, 2022, both dates inclusive (the “Class Period”). Investors have until August 1, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
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…
