Quantum Biopharma ( (TSE:QNTM) ) has issued an update.
Quantum BioPharma has filed an amended complaint in the U.S. District Court for the Southern District of New York against CIBC World Markets, RBC Dominion Securities, and others, alleging market manipulation through ‘spoofing’ techniques that depressed its stock price. The company seeks over $700 million in damages, with law firms Christian Attar and Freedman Normand Friedland LLP handling the case on a contingency basis, minimizing financial strain on Quantum BioPharma. The lawsuit highlights potential implications for the company’s market position and investor interests, as it accuses the defendants of repeated market manipulation from January 2020 to August 2024.
More about Quantum Biopharma
Quantum BioPharma (NASDAQ: QNTM) is a biopharmaceutical company focused on developing innovative biotech solutions for treating neurodegenerative and metabolic disorders, as well as alcohol misuse disorders. The company is advancing its lead compound, Lucid-MS, aimed at addressing multiple sclerosis, and has a stake in Celly Nutrition Corp., which markets unbuzzd™, a product related to alcohol misuse.
YTD Price Performance: 89.95%
Average Trading Volume: 1,274,165
Technical Sentiment Signal: Buy
Current Market Cap: $17.66M
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