LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Arqit Quantum Inc. (“Arqit” or the “Company”) (NASDAQ: ARQQ, ARQQW) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Arqit investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/arqit-quantum-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On April 18, 2022, The Wall Street Journal published an article titled “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say.” Therein, the Journal reported that individuals familiar with the matter claimed that Arqit’s encryption technology “might never apply beyond niche uses,” and that, at the time of the Company’s initial public offering, 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%, to close at $12.49 per share on April 18, 2022, thereby injuring investors.
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