Securities litigation partner James (Josh) Wilson encourages investors who have suffered losses greater than $50,000 in IonQ to contact him directly to discuss their options

NEW YORK, NY/ACCESSWIRE/May 27, 2022/ Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against IonQ, Inc. (“IonQ” or the “Company”) IONQ.

If you have suffered losses greater than $50,000 investing in IonQ stocks or options and want to discuss your legal rights, call partner Faruqi & Faruqi Josh Wilson directly at 877-247-4292 Where 212-983-9330 (ext. 1310). You can also Click here for more information:

There is no cost or obligation for you.

Faruqi & Faruqi, LLP, Tuesday, May 24, 2022, Image from press release

Faruqi & Faruqi is a leading national minority and women-owned securities law firm with offices in New York, Pennsylvania, California and Georgia.

The investigation focuses on IonQ’s claims about its 32-qubit machine, which the company says is “the world’s most powerful quantum computer.” IonQ’s representations allowed the company to go public through a SPAC merger in late September 2021.

But on May 3, 2022, the claims were called into question after activist short seller Scorpion Capital released a scathing 183-page report alleging the company’s claims of a 32-qubit machine are a “brazen hoax”. . The company points out that former employees have said in interviews that the technology “doesn’t exist”, that it “was totally made up” and that the company is “trying to hide that it does not exist”. .

Scorpion has determined that IonQ’s only real machine is an old 11-qubit toy computer for demonstration purposes that former employees, leading quantum experts and key partners “all describe as primitive, useless, doomed by doomsday rates.” ‘fatal errors inherent in the technology, unreliable with little uptime and so slow that a useful calculation could take 3 years.’

Furthermore, Scorpion accused IonQ of earning fictitious revenue through fictitious transactions and back and forth with related parties and, thus, creating the illusion of trading momentum.

In response, the price of IonQ shares fell sharply.

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THE SOURCE: Faruqi & Faruqi, LLP

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