Tags:

IonQ, Inc.


A securities class action has been filed against IonQ, Inc. (IONQ) behalf of all persons and entities that purchased or otherwise acquired IonQ securities between March 30, 2021 through May 2,2022.  This case has been filed in the USDC – MA.

The Complaint 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 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 roundtripping 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.

Tags:

Securities