Quantum BioPharma announced that on July 31, 2025 it filed a memorandum of law in opposition to defendants’ CIBC World Markets, CIBC, and RBC Dominion Securities, RBC, joint motion to dismiss in the United States District Court for the Southern District of New York. This is Quantum’s response to a memorandum of law that CIBC and RBC filed on June 16, 2025, in support of a joint motion to dismiss the Amended Complaint filed by Quantum BioPharma on May 31st, 2025. The amendment complaint filed by Quantum BioPharma allege that CIBC World Markets, RBC Dominion Securities, and others 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. Quantum is seeking damages of more than $700 Million USD.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QNTM:
- Quantum BioPharma’s Unbuzzd Wellness Launches $5M Capital Raise
- Quantum licensee Unbuzzd Wellness commences Reg D capital raise campaign
- Quantum BioPharma Makes Strategic Investment in GameStop
- Quantum BioPharma purchases 2,000 shares of GameStop
- Quantum BioPharma Advances MS Treatment with UK ILAP Submission