IonQ, Inc.

Ticker: IONQ

Class Period Start: 03/30/2021

Class Period End: 05/02/2022

Registration Deadline: 08/01/2022

A securities class action has been filed in the USDC, MD., against IonQ, Inc. (IONQ) on behalf of persons and entities that purchased or otherwise acquired IonQ, Inc. (“IonQ” or the “Company”) securities between March 30, 2021 through May 2, 2022. 

According to the Complaint, IonQ, Inc. claims to “develop quantum computers designed to solve the world’s most complex problems.” On or about September 30, 2021, IonQ became a public entity via business combination with dMY Technology Group, Inc. III, a special purpose acquisition company.

The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors:

  • that IonQ had not yet developed a 32-qubit quantum computer;
  • that the Company’s 11-qubit quantum computer suffered from significant error rates, rendering it useless;
  • that IonQ’s quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers;
  • that a significant portion of IonQ’s revenue was derived from improper round-tripping transactions with related parties; and
  • that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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