Recent Security Class Actions

Arqit Quantum Inc. Ordinary Shares (NASDAQ: ARQQ)

Company Name:Arqit Quantum Inc. Ordinary Shares
Stock Symbol:NASDAQ: ARQQ
Class Period Start:09/07/2021
Class Period End (inclusive):04/18/2022
Filing Deadline:07/05/2022

The Complaint alleges that Defendants throughout the Class Period and in the Proxy Statement issued in connection to the Merger made false and/or misleading statements and/or failed to disclose: (1) Arqit's proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit's proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.