LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Arqit Quantum Inc. (“Arqit” or the “Company”) (NASDAQ: ARQQ, ARQQW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 18, 2022, The Wall Street Journal published an article titled “British Encryption Startup Arqit Overstates Its Prospects, Former Staff and Others Say.” Therein, the Journal reported that individuals familiar with the matter claimed that Arqit’s encryption technology “might never apply beyond niche uses,” and that, at the time of the Company’s initial public offering, Arqit had “little more than an early-stage prototype of its encryption system.”
On this news, Arqit’s share price fell $2.57, or 17.1%, to close at $12.49 per share on April 18, 2022, thereby injuring investors.
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If you purchased Arqit securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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