CORRECTION: Quantum Corporation Investigated by the Portnoy Law Firm
LOS ANGELES, Sept. 18, 2025 (GLOBE NEWSWIRE) -- The original press release, distributed Thursday, September 18, 2025, incorrectly stated that Portnoy Law Firm had commenced an investigation into D-Wave Quantum Inc., in the headline and body of the release. The Portnoy Law Firm has commenced an investigation into Quantum Corporation concerning alleged securities fraud. The corrected release follows.
The Portnoy Law Firm advises Quantum Corporation, (“Quantum” or the "Company") (NASDAQ: QMCO) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Quantum investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/quantum-corporation. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On June 30, 2025, Quantum disclosed in a filing with the U.S. Securities and Exchange Commission (“SEC”) that it would postpone the filing of its Annual Report because it was in the process of reviewing its revenue recognition accounting practices. On this news, Quantum’s stock price fell $1.00 per share, or 10.03%, to close at $8.97 per share on July 1, 2025. Then, on August 8, 2025, Quantum filed a report with the SEC, announcing that the Company’s financials for the third quarter of 2024 could not be relied upon and would be restated to show a new decrease of approximately $3.9 million in revenue, and that there were deficiencies in the Company’s internal control over financial reporting and the Company’s disclosure controls and procedures that constituted material weaknesses as of December 31, 2024 and March 31, 2025. On this news, Quantum’s stock price fell $0.14 per share, or 1.85%, to close at $7.43 per share on August 11, 2025. Finally, on August 18, 2025, Quantum announced the resignation of its Chief Financial Officer Lewis Moorehead amid an internal accounting review related to its revenue recognition practices. On this news, Quantum’s stock price fell $0.61 per share, or 8.2%, to close at $6.83 per share on August 19, 2025.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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