Lawsuit filed against quantum computing firm over alleged misleading statements
What happened
Robbins Geller Rudman & Dowd LLP announced a class action lawsuit, Fessler v. D-Wave Quantum Inc., which charges the company and several executives with violating the Securities Exchange Act of 1934. The lawsuit alleges that defendants made false or misleading statements about D-Wave's business and financial prospects during the period between February 26, 2026, and August 25, 2026. Purchasers of D-Wave securities during that time have until December 15, 2026, to seek appointment as lead plaintiff.
From prnewswire.com
Why it matters
The lawsuit alleges that the defendants materially overstated D-Wave's business and financial prospects, which could negatively impact the company's reputation and business. The legal action relates to the development and delivery of quantum computing systems, software, and services.
From prnewswire.com
Who's involved
- Robbins Geller Rudman & Dowd LLPLaw firm representing plaintiffs in the class action lawsuit
- Michael AlbertAttorney at Robbins Geller Rudman & Dowd LLP involved in the case
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Muddy Waters ResearchSpeculative
Muddy Waters Research might see changes in investment demand or market research costs due to the securities violation allegations.
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The entities involved
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San Diego
seat of San Diego County, California, United States; second-largest city in California
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Michael Albert
Economist, activist, speaker, writer