Quantum Biopharma (NASDAQ:QNTM) Posts Link on Its Website to Access the Filed 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

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To assist enquiries the copy of the complaint can be viewed by clicking the following link: Quantum Bio Pharma Complaint

TORONTO, ON / ACCESSWIRE / October 22, 2024 / Quantum BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) ("Quantum BioPharma" or the "Company"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, announces the Company, on 20th October 2024, had filed a complaint in the United States District Court for the Southern District of New York alleging 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 1st of January 2020, and 15th of August 2024 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 $700 Million USD.

Due to a lot of inquiries the Company has posted a copy of the complaint on its website on the News page. A copy of the filing can be found at https://www.quantumbiopharma.com/news-events.

Globe and Mail has written about this complaint and the article can be accessed via the following link: Quantum BioPharma sues over alleged stock spoofing

The Press Release which was disseminated yesterday can be found by clicking the following link

Some of the content of the PR which was disseminated yesterday is given below

The law firms Christian Attar and Freedman Normand Friedland LLP have decided to take and file this case on a contingency basis, so 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' conduct, and have concluded that there is sufficient evidence of market manipulation for the Company to pursue claims against the Defendants. The complaint details this evidence, which the Company alleges demonstrates that Defendants "spoofed" the market hundreds of times, thereby artificially depressing the price of the Company's stock again and again and harming both the Company and its many retail investors.

The Company's stock in January 2020 was trading over $460 USD (taking into consideration post-splits or present terms) per share with a market cap close to almost One Billion dollars. The Company's share price as of market close on Friday Oct 18th, 2024, was $7.55 USD per share with a market cap of less than $15 Million USD.

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