Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 09, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Arqit Quantum Inc. ("Arqit" or the "Company") (NASDAQ: ARQQ, ARQQW) investors that a class action filed on behalf of investors. Arqit investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Arqit Quantum Founder and Chief Executive, David Williams, told investors that the company had an “impressive backlog” or revenue and was ready “for hyperscale growth” when the company went public via deSPAC transaction in the fall of 2021.
Then, on April 18, 2022, The Wall Street Journal published an article reporting that Arqit's encryption technology "might never apply beyond niche uses," and that, when the Company went public, Arqit had "little more than an early-stage prototype of its encryption system," citing individuals familiar with the matter.
On this news, Arqit's share price fell $2.57, or 17.1%, to close at $12.49 per share on April 18, 2022, thereby injuring investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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