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ARQQ.US

id: 194

Arqit (ARQQ)$7M Investor Settlement

Eligible claimants can submit their claims for compensation.

$7,000,000

Cash Settlement

E.D. New York

Court

1:22-CV-2604

Case number

09/07/2021

Class period Start

12/13/2022

Class period End

06/22/2026

Claim deadline

Arqit Quantum has reached a $7M settlement with $ARQQ investors over claims it misled the public about its quantum encryption tech, customer contracts, and long-term viability after its SPAC merger.

Outline:

Arqit went public through a merger with Centricus while promoting its quantum encryption platform as a breakthrough cybersecurity solution. Investors later alleged the company overstated the maturity of its technology and the value of its customer agreements. Reports questioning these claims raised doubts about the company’s commercial outlook. After the stock fell sharply, investors filed suit and Arqit later reached a tentative settlement.

Timeline:
May 2021: Arqit announced its merger with Centricus Acquisition 
September 2021: Arqit completed the SPAC merger and began trading as $ARQQ.
2022: Reports questioned the legitimacy of Arqit’s customer agreements and technology readiness.
January 2024: Investors filed a securities class action alleging material misstatements.
January 2026: Arqit reached a tentative settlement pending court approval.
Background:

Arqit Quantum is a UK-based cybersecurity company that promoted its quantum encryption technology as a next-generation solution for protecting sensitive data. The company went public in 2021 through a SPAC merger with Centricus Acquisition Corp.

Following the transaction, Arqit stated that it had secured multi-year customer agreements and positioned its platform as a critical tool for future cybersecurity infrastructure. These statements suggested strong commercial demand and long-term growth potential.

Investors later alleged that many of the company’s agreements were non-binding memoranda of understanding rather than firm contracts. They also claimed the company overstated the readiness and real-world adoption of its technology while failing to disclose internal concerns about its commercial viability.

As these issues surfaced and scrutiny increased, $ARQQ declined sharply. Shareholders alleged the company had inflated its financial outlook and misled the market about the strength of its technology and customer relationships.

What Can Investors Expect Now?

Arqit Quantum has reached a settlement with $ARQQ investors to resolve claims tied to statements about its technology readiness and customer agreements following its SPAC merger.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.

Case Type

US Securities Class Action

Case Status

Accepting Claims

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Insider Trading,

Negligence,

Omissions

Suspected Party

Directors,

Management,

Influencer

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.23

Filing date

04/14/2023

Lead Plaintiff Deadline

06/14/2023

Plaintiffs

Chris Weeks

Attorneys

Wolf Popper, LLP (New York, NY)

Defendants

David Williams, Nick Pointon, Carlo Calabria, Stephen Chandler, Manfredi Lefebvre d’Ovidio, Lt. General VeraLinn Jamieson, Garth Ritchie, Gen. Stephen Wilson

Administrator

Strategic Claims Services

Settlement agreement date

2026-01-09

Court hearing date

06/01/2026

Exclusion deadline

05/11/2026

Objection deadline

05/11/2026

Attorney fee

$2,508,100

Trades matching type

FIFO

Frequently Asked Questions

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