The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (ARQQ, ARQQW) Investors

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Arqit Quantum Inc. (“Arqit” or the “Company”) (NASDAQ: ARQQ, ARQQW) securities between September 7, 2021 and April 18, 2022, inclusive (the “Class Period”); and/or (b) holders of Centricus Acquisition Corp. (“Centricus”) securities as of the record date for the special meeting of shareholders held on August 31, 2021. Arqit investors have until July 5, 2022, to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On April 18, 2022, The Wall Street Journal published an article reporting that Arqit’s encryption technology “might never apply beyond niche uses,” and that, when the Company went public, Arqit had “little more than an early-stage prototype of its encryption system,” citing individuals familiar with the matter.

On this news, Arqit’s share price fell $2.57, or 17.1%, to close at $12.49 per share on April 18, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Arqit's proposed encryption technology would require widespread adoption of new protocols and standards of for telecommunications; (2) British cybersecurity officials questioned the viability of Arqit's proposed encryption technology in a meeting in 2020; (3) the British government was not an Arqit customer but, rather, providing grants to Arqit; (4) Arqit had little more than an early-stage prototype of its encryption system at the time of the Merger; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased Arqit securities during the Class Period, you may move the Court no later than July 5, 2022, to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Arqit securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Arqit Quantum Inc. f/k/a Centricus Acquisition Corp. (ARQQ, ARQQW) Investors