- July 2, 2022
- Posted by: Mainframe Consulting
- Category: Business Wire
ARQIT 96 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors with Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. – ARQQ
NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 5, 2022 to file lead plaintiff applications in a securities class action lawsuit against Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (NasdaqCM: ARQQ, ARQQW, CENH, CENHU, CENHW), if they purchased the Company’s securities between September 7, 2021 and April 18, 2022, inclusive (the “Class Period”) and/or held Centricus securities as of August 31, 2021 and were eligible to vote at the special meeting on the merger between Arqit and Centricus. This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased securities of Arqit or held Centricus as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqcm-arqq/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by July 5, 2022.
About the Lawsuit
Arqit and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Proxy Statement issued in connection to the Merger, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications (ii) British cybersecurity officials questioned the viability of the Company’s proposed encryption technology in a meeting in 2020; (iii) the British government was not a customer of the Company but, rather, provided grants to it; (iv) the Company had little more than an early-stage prototype of its encryption system at the time of the Merger; and (v) as a result of the foregoing, the Company’s statements about its business, operations, and prospects were materially false and misleading at all relevant times.
The case is Glick v. Arqit Quantum Inc., et al., 22-cv-2604.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Published at Sat, 02 Jul 2022 02:50:00 +0000