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Arqit Quantum Inc.


A securities class action has been filed against Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (NASDAQ: ARQQ, ARQQW, CENH, CENHU, CENHW): on behalf of purchasers of the securities of Arqit: (i) between September 7, 2021 and April 18, 2022 and/or (ii) all holders of Centricus securities as of the record date for the special meeting of shareholders held on August 31, 2021 to consider approval of the merger between Arqit and Centricus (the “Merger”) and entitled to vote on the Merger.  This case has been filed in the USDC – E.D.N.Y.

According to the lawsuit, defendants throughout the Class Period and in the Proxy Statement issued in connection to the Merger made false and/or misleading statements and/or failed to disclose: (1) Arqit’s proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit’s proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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Securities