NEW YORK, June 02, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ) in the United States District Court for the District of Maryland on behalf of investors who purchased IonQ stock between March 30, 2021 and May 2, 2022, inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors: (i) that IonQ had not yet developed a 32-qubit quantum computer; (ii) that the Company’s 11-qubit quantum computer suffered from significant error rates, rendering it useless; (iii) that IonQ’s quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers; (iv) that a significant portion of IonQ’s revenue was derived from improper round-tripping transactions with related parties; and (v) 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 at all relevant times.
Investors who purchased or otherwise acquired shares of IonQ should contact the Firm prior to the July 30, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
