On October 20, 2025, the DJS Law Group announced a class action lawsuit against Quantum Corporation (NASDAQ: QMCO). The lawsuit alleges violations of the Securities Exchange Act of 1934, specifically §§10(b) and 20(a) and Rule 10b‑5, and claims that Quantum made false and misleading statements to investors. The filing was made public at 03:50 ET and is the first formal legal challenge to the company’s financial disclosures.
The complaint asserts that Quantum improperly recognized revenue during the fiscal year ended March 31, 2025, leading to a restatement of prior financial statements. It further alleges that the company’s public statements were materially misleading throughout the class period, resulting in investor losses. The lawsuit seeks damages for shareholders who purchased Quantum shares between November 15, 2024, and August 18, 2025.
The class period spans from November 15, 2024, to August 18, 2025, with a deadline for lead plaintiff appointments set for November 3, 2025. If the court finds in favor of the plaintiffs, Quantum could face significant financial liability and reputational harm. The lawsuit represents a major legal and regulatory event that could materially affect the company’s financial position and investor confidence.
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