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Quantum Biopharma Files Amended Complaint Against CIBC World Markets, RBC Dominion Securities and Others, Seeking Damages in Excess of $700,000,000 USD, for Possible Stock Price Manipulation/Spoofing
To assist enquiries a copy of the amended complaint can be viewed by clicking the following link:...
About this update from Quantum Biopharma Ltd. Subordinate Voting Shares Class B
[{"type":"text","content":"Quantum Biopharma Files Amended Complaint Against CIBC World Markets, RBC Dominion Securities and Others, Seeking Damages in Excess of $700,000,000 USD, for Possible Stock Price Manipulation/Spoofing \n\n\n\n\n\n To assist enquiries a copy of the amended complaint can be viewed by clicking the following link:\n \n\n\n\n Quantum Amended Court Claim\n \n\n\n TORONTO, May 05, 2025 (GLOBE NEWSWIRE) -- Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) (“\n \n Quantum BioPharma\n \n ” or the “\n \n Company\n \n ”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, today announced that on May 1, 2025 it filed an amended complaint in the United States District Court for the Southern District of New York. This is an amendment to the original complaint filed on October 21, 2024, is in response to the Motion to Dismiss filed by the banks on January 31, 2025, and is filed in the United States District Court for the Southern District of New York. The amendment and complaint allege that CIBC World Markets (CIBC), RBC Dominion Securities (RBC), and others (the “Defendants”) engaged in market manipulation schemes that violated Section 10(b) and Rule 10b-5(a) and (c) and Section 9(a) of the Securities Exchange Act of 1934. This lawsuit alleges that between\n \n 1\n \n\n\n st\n \n\n\n of January 2020\n \n and\n \n 15\n \n\n\n th\n \n\n\n of August 2024\n \n the Defendants and/or their customers used “spoofing” techniques to manipulate the share price of Quantum BioPharma shares. The Company is seeking damages of more than $\n \n 700 Million USD\n \n .\n \n\n The Company has posted a copy of the amended complaint, as well as the original complaint, on its website on the News page. A copy of the filing can be found at\n \n https://www.quantumbiopharma.com/quantum-biopharma-vs-banks\n \n or by clicking the following link:\n \n Quantum Amended Court Claim\n \n\n\n The law firms Christian Attar and Freedman Normand Friedland LLP have agreed to take and file this case on a contingency basis and, as such, there will be no material financial pressure on the Company to bear the legal costs associated with this case. These law firms, working with industry experts, conducted an extensive investigation into the Defendants’ conduc...
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