WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (NASDAQ: ARQQ, CENH, CENHU, CENHW) resulting from allegations that Arqit may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Arqit securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=5481 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: On April 18, 2022, pre-market, The Wall Street Journal published an article entitled “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say: Arqit says its encryption system can’t be broken by quantum computers, but former employees and people outside the company question the relevance of its technology[.]” The article states that “Arqit has given investors 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 viewed by The Wall Street Journal.” The article further states that “people familiar with the matter said that the bulk of the company’s committed revenue isn’t from selling its product and that at its public launch, the company had little more than an early-stage prototype of its encryption system.”
On this news, Arqit’s stock price fell $2.57 per share, or 17%, to close at $12.49 per share on April 18, 2022.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
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