On April 8, 2025, the United States Court of Appeals for the Fourth Circuit affirmed the district court’s denial of a motion to amend a class action complaint against a quantum computing company (the “Company”) and the special purpose acquisition company (“SPAC”) that acquired it alleging violations of Sections 10(b) and 14(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5. DeFeo et al. v. IonQ, Inc., No. 24-1709 (4th Cir. Apr. 8, 2025)…
Source: Fourth Circuit Affirms District Court’s Denial Of Motion To Amend A Securities Fraud Class Action Against Quantum Computing Company As Futile For Failure To Plead Loss Causation