Los Angeles - (NewMediaWire) - April 21, 2022 - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Arqit Quantum Inc. (“Arqit” or “the Company”) (NASDAQ: ARQQ) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Arqit is the subject of an article published by the Wall Street Journal on April 18, 2022, titled: “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say.” According to the report, “The 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. Several clients the company lists—including a number of British government agencies—are simply giving Arqit research grants, nonbinding memorandums of understanding or research agreements that come with no funding, not contracts for its encryption product, they said.” Based on this report, shares of Arqit fell by more than 19% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,