on Quantum Biopharma Ltd.
Quantum BioPharma Files $700M Lawsuit Alleging Stock Price Manipulation
Quantum BioPharma Ltd., a biopharmaceutical company, has announced a lawsuit filed in the US District Court against CIBC World Markets, RBC Dominion Securities, and others. The company seeks over $700 million in damages for alleged stock price manipulation through "spoofing" techniques. This legal move follows an investigation by Christian Attar Law Firm and Freedman Normand Friedland LLP, revealing evidence of alleged market manipulation from January 2020 to August 2024.
The alleged practices reportedly caused Quantum's share price to plummet from over $460 to $7.55 per share, severely impacting the company's market value and its shareholders. The law firms, engaged on a contingency basis, have found sufficient grounds to support the claims.
The lawsuit underscores the company's commitment to shareholder equity and signals potential further actions against other unnamed entities involved in the alleged scheme.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Quantum Biopharma Ltd. news