According to the lawsuit, defendants throughout the Class Period and in the Proxy Statement issued in connection to the Merger made false and/or misleading statements and/or failed to disclose:
- Arqit’s proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications;
- British cybersecurity officials questioned the viability of Arqit’s proposed encryption technology in a meeting in 2020;
- the British government was not an Arqit customer but, rather, providing grants to Arqit;
- Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and
- as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.