Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Quantum Computing Inc. (“QCI”) (NASDAQ: QUBT) securities between January 19, 2022 and January 15, 2025, inclusive (the “Class Period”).
QCI develops and sells quantum computing services for high-performance computing appliances, but has shifted focus to the development of quantum photonic products and integrating this technology with artificial intelligence applications, as well as producing thin film lithium niobate (“TFLN”) quantum computing chips. QCI touted its dealings with Quad M Solutions, Inc., Millionways, Inc., and the National Aeronautics and Space Administration (“NASA”), as resulting from QCI’a ability to substantially aid specialized use-cases though its differentiated quantum computing technologies, products, and/or services.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) QCI overstated the capabilities of the company’s quantum computing technologies, products, and/or services; (2) QCI overstated the scope and nature of its relationship with NASA, as well as the scope and nature of QCI’s NASA-related contracts and/or subcontracts; (3) QCI overstated the company’s progress in developing a TFLN foundry, the scale of the purported TFLN foundry, and orders for the company’s TFLN chips; (4) QCI’s business dealings with Quad M Solutions, Inc. and Millionways, Inc. both qualified as related party transactions; (5) accordingly, QCI’s revenues relied, at least in part, on undisclosed related party transactions; (6) all the foregoing, once revealed, was likely to have a significant negative impact on QCI’s business and reputation; and (7) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On November 14, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. The Motion has been fully briefed and is pending decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.