IONQ ALERT: Hagens Berman, National Trial Attorneys, Investigating IonQ, Inc. (IONQ) for Possible Securities Law Violations, Encourages IONQ Investors With Significant Losses to Contact Firm's Attorneys
SAN FRANCISCO, May 4, 2022 /PRNewswire/ -- Hagens Berman urges IonQ, Inc. (NYSE: IONQ) investors who suffered significant losses to submit your losses now. The firm is investigating possible securities law violations.
Visit: www.hbsslaw.com/investor-fraud/IONQ
Contact An Attorney Now: [email protected]
844-916-0895
IonQ, Inc. (NYSE: IONQ) Investigation:
The investigation focuses on IonQ's statements about its 32-qubit machine which the company claims is "the world's most powerful quantum computer." IonQ's representations allowed the company to go public through a SPAC-merger in late Sept. 2021.
But on May 3, 2022, the claims came into question after activist short-seller Scorpion Capital published a 183-page scathing report alleging the company's claims of a 32-qubit machine are a "brazen hoax." The firm points out that past employees stated in interviews the technology "doesn't exist," that "it was totally made up," and that the company is "trying to cover up that it is not there."
Scorpion determined that IonQ's only actual machine is an old 11-qubit toy computer for demonstration purposes that ex-employees, leading quantum experts, and key partners "all described as primitive, useless, doomed by fatal error rates inherent to the technology, unreliable with low uptime, and so slow that a useful calculation could take 3 years."
In addition, Scorpion accused IonQ of recording fictitious revenue via sham transactions and related-party round-tripping and, thereby, creating the illusion of commercial momentum.
In response, the price of IonQ shares sharply fell.
"We're focused on investors' losses and whether IonQ misrepresented the existence of- and commercial prospects for- its 32-qubit computer," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in IonQ and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding IonQ should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP
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