The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of IonQ, Inc. (NYSE: IONQ) who purchased shares between March 30, 2021 and May 2, 2022. The action, which was filed in the United States District Court for the District of Maryland, alleges that the Company violated federal securities laws.
In particular, the IONQ lawsuit alleges 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.
Shareholders have until August 1, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.