Wolf Popper LLP Announces Investigation on Behalf of Investors in Arqit Quantum Inc.
NEW YORK, April 20, 2022: Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Arqit Quantum Inc. common stock (NASDAQ: ARQQ).
In May 2021, Centricus Acquisition Corp. (NASDAQ: CENH), a special purpose acquisition company, announced it would combine with Arqit Limited in a $1.4 billion deal.
The merger was approved by a majority vote of the holders of Centricus common shares. The merger closed on September 7, 2021 and Centricus changed its name to Arqit Quantum Inc. and its stock symbol to “ARQQ”.
On April 18, 2022, The Wall Street Journal published a story entitled British Encryption Startup Overstates Its Prospects, Former Staff and Others Say. According to The Wall Street Journal, Arqit had “given investors an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system” and Arqit’s chief revenue officer had resigned in April 2021 because he felt Arqit’s projections were unrealistic. On this news, the price of Arqit’s common stock fell $2.57 per share to $12.49, or a drop of 17.1% on heavier than normal volume.
Investors who have lost over $10,000 trading in Arqit’s common stock and who would like to discuss the investigation should contact Joshua Ruthizer at (212) 451-9668, (877) 370-7703, or firstname.lastname@example.org.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
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Wolf Popper LLP
Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Tel.: (877) 370-7703