NEW YORK, April 28, 2022 (World NEWSWIRE) — Pomerantz LLP is investigating statements on behalf of traders of Arqit Quantum Inc. (f/k/a Centricus Acquisition Corp.) (“Arqit” or the “Organization”) ARQQ. These kinds of traders are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation issues no matter whether Arqit and specific of its officers and/or directors have engaged in securities fraud or other illegal organization procedures.
On April 18, 2022, The Wall Road Journal published a story entitled: “British Encryption Startup Arqit Overstates Its Prospects, Previous Team and Other people Say.” The Wall Road Journal reported, amongst other matters, that “Arqit has given investors an extremely optimistic view of its long run revenue and the readiness and workability of its signature encryption method”, citing “former workforce and other men and women common with the enterprise, and paperwork viewed.” Specifically, “men and women common with the make any difference stated that the bulk of [Arqit’s] committed profits just isn’t from advertising its products and that at its public start, [Arqit] experienced very little additional than an early-stage prototype of its encryption program. Several clients [Arqit] lists—including a variety of British governing administration agencies—are simply providing Arqit research grants, nonbinding memorandums of knowing or exploration agreements that appear with no funding, not contracts for its encryption item, they explained.” The article also documented that “[i]n April 2021, Arqit’s chief profits officer resigned following raising concerns with [Arqit’s CEO] that he was overstating contracts and offering unrealistic income projections to potential investors”.
On this information, Arqit’s stock selling price fell $4.61 for every share, or 30.61%, in excess of the pursuing two investing classes, to shut at $10.45 for every share on April 19, 2022.
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Make contact with:
Robert S. Willoughby
888-476-6529 ext. 7980