NEW YORK, July 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of IonQ, Inc. (NYSE: IONQ).
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The lawsuit seeks to recover losses for shareholders who purchased IonQ between March 30, 2021 and May 2, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until August 1, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, IonQ, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) IonQ had not yet developed a 32-qubit quantum computer; (2) the Company's 11-qubit quantum computer suffered from significant error rates, rendering it useless; (3) IonQ's quantum the computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers; (4) a significant portion of IonQ's revenue was derived from improper roundtripping transactions with related parties; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were the materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law