LOS ANGELES, CA / ACCESSWIRE / June 21, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. ("Arqit" or "the Company") (NASDAQ:ARQQ)(NASDAQ:CENH) for violations of the federal securities laws.
Investors who purchased the Company's securities between September 7, 2021 and April 18, 2022, inclusive (the ''Class Period''), and all holders of Centricus securities as of the record date for the special meeting of shareholders held on August 31, 2021 to consider approval of the merger between Arqit and Centricus (the "Merger") and entitled to vote on the Merger, are encouraged to contact the firm before July 5, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Arqit's encryption technology would only be effective with the widespread adoption of new standards for telecommunication and the development of new protocols. Cybersecurity officials for the United Kingdom were not convinced of the Company's technology and its viability in a 2020 meeting. The British government only provided grants to the Company, it was not a customer. At the time of the Merger, the Company only had an early prototype of its technology. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Arqit, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm