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Lead Plaintiff Deadline
Dec 15, 2026
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The filed complaint alleges that D-Wave Quantum Inc made materially false and/or misleading statements and/or failed to disclose that: (i) defendants materially overstated DWave’s business and financial prospects; (ii) the foregoing was reasonably likely to negatively impact the Company’s business and reputation; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Investors who purchased or otherwise acquired D-Wave Quantum Inc. securities within the class period described above and suffered losses may be eligible.
If you suffered a loss in D-Wave Quantum Inc. during the relevant time frame or pursuant to the relevant offering(s), you have until December 15, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
● The Allegation: The complaint alleges D-Wave made materially false and misleading statements by overstating the Company's business and financial prospects, while publicly touting 2025 as one of the most transformative years in its history and projecting exceptional momentum heading into 2026.
● The Stock Drop: On August 26, 2026, QBTS fell $1.84 per share (9.51%) to close at $17.51 per share after D-Wave announced the retirement and resignation of its Chief Financial Officer; earlier, on August 6, 2026, QBTS fell $1.99 per share (9.28%) to close at $19.41 per share after the Company reported second quarter 2026 revenue of just $3.08 million, missing analyst expectations.
● Class Period & Defendants: The class period runs from February 26, 2026 through August 25, 2026, inclusive. The named defendants are D-Wave Quantum Inc., Alan Baratz (Chief Executive Officer and President), and John M. Markovich (Chief Financial Officer).
● Lead Plaintiff Deadline: December 15, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline.
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D-Wave Quantum Class Action Summary |
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Company |
D-Wave Quantum Inc. (NYSE: QBTS) |
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Lead Plaintiff Deadline |
December 15, 2026 |
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Class Period |
February 26, 2026 – August 25, 2026 |
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Stock Drop |
August 6, 2026 – QBTS fell $1.99 (9.28%) to $19.41; August 26, 2026 – QBTS fell $1.84 (9.51%) to $17.51 |
A securities class action lawsuit has been filed against D-Wave Quantum Inc. (NYSE: QBTS). The case was brought on behalf of investors who acquired D-Wave securities during the class period from February 26, 2026 through August 25, 2026.
The complaint alleges that D-Wave made materially false and misleading statements about its business and financial prospects. It claims the Company overstated how well it was doing. In truth, the lawsuit says, its results and outlook were weaker than investors were told.
The alleged truth began to emerge in August 2026. D-Wave missed revenue expectations and later announced that its Chief Financial Officer was retiring and resigning. The stock dropped following both announcements, and the complaint alleges that investors suffered losses.
D-Wave Quantum Inc. is a quantum computing company headquartered in Palo Alto, California. The Company generates revenue from three principal sources: quantum computing as a service (QCaaS), which provides cloud-based access to its quantum computing systems; professional services; and sales of its quantum computing systems. D-Wave common stock trades on the New York Stock Exchange under the ticker symbol QBTS.
February 26, 2026–August 25, 2026
Investors who purchased or acquired D-Wave Quantum Inc. (QBTS) securities during the Class Period may be eligible to seek recovery under the federal securities laws.
The complaint alleges that throughout the class period, D-Wave and two of its senior officers, Chief Executive Officer and President Alan Baratz and Chief Financial Officer John M. Markovich, made materially false and misleading statements concerning the Company's business, operations, and compliance policies. According to the complaint, the defendants materially overstated D-Wave's operational and financial prospects, and that overstatement was reasonably likely to negatively impact the Company's business and reputation.
The class period begins on February 26, 2026, when D-Wave issued a press release announcing its results for the fourth quarter and full year 2025. In that release, Baratz described 2025 as "one of the most successful and transformative years in D-Wave's history," citing growth across revenue, bookings, technical milestones, and scientific breakthroughs. He stated the Company was "entering 2026 with exceptional momentum," pointing to over $30 million in bookings in January alone, the acquisition of gate-model quantum computing company Quantum Circuits, Inc., and an eight-figure enterprise QCaaS agreement. The same release announced a new business unit dedicated to driving adoption of D-Wave's products within the U.S. government.
The lawsuit claims these optimistic representations continued on May 12, 2026, when D-Wave reported first quarter 2026 results. Baratz described the quarter's performance as reflecting "strong execution, expanding commercial adoption, and differentiated technology leadership," and said D-Wave was "uniquely positioned to participate in the full addressable quantum computing market." He highlighted a record-setting $10 million QCaaS agreement with a Fortune 100 company as evidence of growing demand.
The complaint alleges these statements were materially false and misleading because the defendants overstated D-Wave's prospects and failed to disclose material adverse facts about the Company's business. The filing states that the Individual Defendants, because of their senior positions and access to material non-public information, knew or recklessly disregarded that the positive representations were false and misleading when made.
The complaint alleges the truth started to emerge on August 6, 2026, when D-Wave announced its financial results for the second quarter of 2026. The Company reported revenue of just $3.08 million, compared to $3.1 million for the same period in the prior year. That result fell short of analyst expectations, which ranged from $4.03 million to $4.08 million.
The disclosures continued later that month. On August 25, 2026, D-Wave issued a press release announcing that John Markovich was retiring and resigning from his position as Chief Financial Officer, effective September 2, 2026. According to the complaint, these revelations contradicted the defendants' prior portrayal of a company with exceptional momentum and expanding commercial adoption, and the market reacted sharply to each announcement.
The complaint alleges investors suffered losses as the alleged truth reached the market. Following the second quarter revenue miss, D-Wave's stock price declined $1.99 per share, or 9.28%, to close at $19.41 per share on August 6, 2026. After the announcement of the Chief Financial Officer's retirement and resignation, D-Wave's stock price fell an additional $1.84 per share, or 9.51%, closing at $17.51 per share on August 26, 2026. According to the complaint, these declines reflected the sharp drop in the market value of the Company's securities and caused significant losses and damages for the plaintiff and other class members.
● Lead Plaintiff Deadline: December 15, 2026
● After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.
● Defendants may file a motion to dismiss.
● If the case proceeds, the Court may later consider class certification.
Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.
The lawsuit alleges that D-Wave Quantum Inc. (NYSE: QBTS) and two senior officers made materially false and misleading statements about the Company's business and financial prospects between February 26, 2026 and August 25, 2026. According to the complaint, the defendants materially overstated D-Wave's operational and financial prospects while describing 2025 as a transformative year and projecting exceptional momentum for 2026. The complaint claims investors purchased D-Wave securities at artificially inflated prices and suffered losses when later disclosures, including a revenue miss and the Chief Financial Officer's retirement, reached the market.
The complaint names three defendants: D-Wave Quantum Inc., Alan Baratz, and John M. Markovich. According to the complaint, Baratz served as the Company's Chief Executive Officer and President at all relevant times, and Markovich served as its Chief Financial Officer. The lawsuit alleges that Baratz and Markovich, referred to collectively as the Individual Defendants, had the power and authority to control the contents of D-Wave's SEC filings, press releases, and other market communications, and are liable for the alleged false statements and omissions.
The class period runs from February 26, 2026 through August 25, 2026, inclusive. The complaint alleges that the class period begins on February 26, 2026, when D-Wave issued a press release announcing its fourth quarter and full year 2025 results. Investors who purchased or acquired D-Wave Quantum Inc. (QBTS) securities during this period may be eligible to seek recovery under the federal securities laws. The complaint states that D-Wave securities were actively traded on the New York Stock Exchange throughout the class period.
According to the complaint, D-Wave's stock declined on two occasions in August 2026. On August 6, 2026, the Company reported second quarter revenue of just $3.08 million, missing analyst expectations that ranged from $4.03 million to $4.08 million, and the stock fell $1.99 per share, or 9.28%, to close at $19.41 per share. On August 25, 2026, D-Wave announced the retirement and resignation of Chief Financial Officer John Markovich, and the stock fell $1.84 per share, or 9.51%, closing at $17.51 per share on August 26, 2026.
A lead plaintiff is an investor appointed by the Court to represent the interests of the class in a securities class action. The lead plaintiff typically directs the litigation on behalf of all class members. In this case, plaintiff Rodney Fessler filed the complaint on behalf of all persons and entities that purchased or acquired D-Wave securities during the class period. Investors who wish to seek appointment as lead plaintiff must apply by the deadline. The Court has the authority to select the most adequate lead plaintiff.
The lead plaintiff deadline is December 15, 2026.
According to the complaint, the class consists of all persons and entities, other than the defendants, that purchased or otherwise acquired D-Wave securities between February 26, 2026 and August 25, 2026, inclusive, and were damaged upon the revelation of the alleged corrective disclosures. Excluded from the class are the defendants, the Company's officers and directors during the relevant period, their immediate family members and legal representatives, and any entity in which the defendants have or had a controlling interest. Eligible investors may be able to seek recovery under the federal securities laws.
The lawsuit alleges D-Wave Quantum Inc. (NYSE: QBTS) made materially false and misleading statements that overstated its business and financial prospects between February 26, 2026 and August 25, 2026, causing investor losses when the alleged truth emerged.
The class period runs from February 26, 2026 through August 25, 2026, inclusive. Investors who purchased D-Wave (QBTS) securities during this period may be eligible to seek recovery under the federal securities laws.
QBTS fell 9.28% to $19.41 on August 6, 2026 after D-Wave reported a second-quarter revenue miss, then fell 9.51% to $17.51 on August 26, 2026 after D-Wave announced that its Chief Financial Officer was retiring and resigning.
The defendants are D-Wave Quantum Inc., Chief Executive Officer and President Alan Baratz, and Chief Financial Officer John M. Markovich.
The lead plaintiff deadline is December 15, 2026.
Deadline
Dec 15, 2026