NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP has announced the filing of a class action lawsuit against IonQ, Inc. (“IonQ” or the “Company”) (NYSE: IONQ) and certain former officers of the company. The class action, lodged in the United States District Court for the District of Maryland under docket number 22-cv-01536, represents a class of all individuals and entities, excluding the defendants, who purchased or acquired IonQ securities between March 30, 2021, and May 2, 2022 (the “Class Period”). The plaintiff seeks to hold the defendants accountable under the Securities Exchange Act of 1934 (the “Exchange Act”).

Shareholders who acquired IonQ securities during the Class Period have until August 1, 2022, to request the Court to appoint them as Lead Plaintiff for the class. Interested parties can obtain a copy of the Complaint at www.pomerantzlaw.com. For inquiries regarding the lawsuit, contact Robert S. Willoughby at newaction@pomlaw.com or call toll-free at 888.476.6529, Ext. 7980. Those reaching out by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

IonQ Overview:
IonQ claims to be at the forefront of developing quantum computers intended to tackle some of the world’s most complex challenges. The company became publicly traded on September 30, 2021, following a merger with dMY Technology Group, Inc. III, a special purpose acquisition company.

Allegations in the Complaint:
The complaint accuses the defendants of making materially false and misleading statements, as well as omitting critical adverse information regarding the Company’s operations, business, and prospects during the Class Period. Specifically, the defendants allegedly failed to disclose that:

IonQ had not yet developed a 32-qubit quantum computer.
The Company’s 11-qubit quantum computer experienced significant error rates, rendering it ineffective.
IonQ’s quantum computer lacked sufficient reliability, limiting its accessibility despite being available through major cloud service providers.
A considerable portion of IonQ’s revenue was derived from questionable round-tripping transactions involving related parties.
As a consequence of these factors, the defendants’ optimistic statements regarding the Company’s business, operations, and prospects were materially misleading and lacked a reasonable basis.
Following the release of a research report by Scorpion Capital on May 3, 2022, which accused IonQ of being a “scam built on phony statements” regarding key aspects of its technology and business operations, IonQ’s stock price dropped by $0.71, or 9.03%, closing at $7.15 per share on that day amid unusually high trading volume.

About Pomerantz LLP:
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is recognized as one of the leading firms specializing in corporate, securities, and antitrust class action litigation. Founded by the late Abraham L. Pomerantz, a pioneer in the field of securities class actions, the firm has spent over 85 years advocating for the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct, recovering numerous multimillion-dollar damages for class members.