The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (“Arqit” or the “Company”) (NASDAQ: ARQQ, ARQQW, CENH, CENHU, CENHW) securities from September 7, 2021 through April 18, 2022, both dates inclusive (the “Class Period”); and/or (ii) Centricus securities as of the record date for the special meeting of shareholders held on August 31, 2021 to consider approval of the merger between Arqit and Centricus (the “Merger”) and entitled to vote on the Merger. Investors have until July 5, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Arqit is a cybersecurity company that has developed quantum encryption technology.
On April 18, 2022, The Wall Street Journal published an article titled, “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say.” On this news, Arqit share price declined by $2.57 per share, or approximately 17.07%, from $15.06 per share to close at $12.49 per share on April 18, 2022.
The lawsuit alleges throughout the Class Period and in connection to the Merger, Defendants 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 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; and (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger.
If you purchased or otherwise acquired Arqit or Centricus securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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