SAN FRANCISCO, April 20, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Arqit Quantum Inc. (NASDAQ: ARQQ) investors and Centricus Acquisition Corp. (NASDAQ: CENH, CENHU, CENHW) investors with significant losses to submit your losses now.
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Arqit Quantum Inc. (ARQQ) Investigation:
The investigation focuses on Arqit’s claims that its signature encryption system is a live production software release being used by enterprise customers.
Arqit’s claims were brought into question on Apr. 18, 2022, after an article in the Wall Street Journal accused Arqit Quantum of making misleading statements to investors about the readiness and utility of its signature encryption system.” Among other things, the WSJ reported that (1) “Arqit has given an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system, according to former employees and other people familiar with the company, and documents reviewed by The Wall Street Journal” and, (2) “[w]hen the company secured its Nasdaq listing last autumn, its revenue consisted of a handful of government grants and small research contracts, and its signature product was an early-stage prototype unable to encrypt anything in practical use.”
This news sent the price of Arqit shares sharply lower.
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