On March 28, 2025, the U.S. District Court for the Eastern District of New York denied the defendants' motion to dismiss in its entirety in the putative class action lawsuit, In re Arqit Quantum Inc. Securities Litigation (Case No. 1:22-cv-02604). The court's decision means the lawsuit will proceed.
The lawsuit alleges that Arqit Quantum made false claims regarding its quantum-safe encryption technology, its readiness for customers, and its revenue projections. It also cites the company's significant alteration of its technology strategy to abandon quantum satellite technology.
Arqit Quantum maintains that the court's decision does not reflect a view on the merits of the plaintiff’s claims. The company stated its belief in having strong defenses to the underlying allegations and its intention to vigorously defend the claim going forward.
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