Arqit Quantum (ARQQ) plans $7M settlement to resolve U.S. class actions
Rhea-AI Filing Summary
Arqit Quantum Inc. has agreed to settle a previously disclosed putative securities class action in the U.S. District Court for the Eastern District of New York for $7 million, under a settlement agreement executed on January 9, 2026 and submitted to the court for documentation and approval. The case, referred to as the Federal Action, involved the company and certain of its directors. Assuming the court approves the settlement, the company will seek dismissal of a related putative class action in the Supreme Court of the State of New York, which has been stayed because it falls entirely within the settlement classes of the Federal Action. The information in this report is also incorporated by reference into several of Arqit’s effective Form S-8 and Form F-3 registration statements.
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Insights
Arqit moves to resolve U.S. class actions with a $7M deal.
Arqit Quantum Inc. has executed a settlement agreement to resolve a previously disclosed putative class action in the U.S. District Court for the Eastern District of New York for
The company states that, once the federal settlement is approved, it will seek dismissal of a stayed, related putative class action in New York state court that falls entirely within the federal settlement classes. If approved by the court, this structure could consolidate resolution of both actions into a single settlement framework, replacing litigation uncertainty with a defined cash obligation.
The agreement has been submitted to the federal court for documentation and approval, so the key next step is the court’s consideration of the proposed