Arqit Quantum Inc. Securities Investigation
Our securities attorneys are investigating reports that Arqit Quantum Inc. may have made false and misleading statements to investors concerning the forecast performance of the Company shortly before its initial public offering (IPO).
Did you purchase or acquire Arqit shares pursuant to and/or traceable to the Company’s initial public offering? Speak to a lawyer.
Protect your rights by speaking with a Girard Sharp investment fraud attorney. Call us toll-free at (866) 981-4800 or submit your information below:
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More Details on the Arqit Quantum Inc. Investigation
Arqit Quantum provides encryption services to large companies and governments. It went public in May 2021 by merging with a Special Acquisition Company (SPAC) in a $1.4 billion transaction.
On April 18, 2022, The Wall Street Journal published an article reporting on this 2021 SPAC merger. The article reports that the Company may have overstated its prospects and “given investors an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system.” After interviewing insiders and former employees and reviewing documents, The Wall Street Journal further stated that at the time of its IPO, Arqit had “little more than an early-stage prototype of its encryption system.”
On this news, Arqit’s share price fell $2.57, or 17.1%, closing at $12.49 per share on April 18, 2022.
Did you purchase Arqit Quantum Inc.’s common stock?
You may have a legal claim. Speak to an investment fraud attorney about your rights by calling 1.866.981.4800 or filling out the form at the top of the page.
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