SAN DIEGO, Oct. 29, 2026 (GLOBE NEWSWIRE) — Johnson Fistel, PLLP, a shareholder-rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired D-Wave Quantum Inc. (NASDAQ: QBTS) securities between February 26, 2026 and August 25, 2026, inclusive (the “Class Period”).

The lawsuit, captioned Fessler v. D-Wave Quantum Inc., No. 5:26-cv-11953, is pending in the United States District Court for the Northern District of California. The action alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 against D-Wave and certain of its executives.

Investors seeking appointment as lead plaintiff must file their motions with the Court no later than December 15, 2026.

What Should D-Wave Investors Do?

If you purchased D-Wave securities during the Class Period and suffered losses, you are encouraged to contact Johnson Fistel to learn more about your legal rights and potential recovery options.

To learn more, visit:

https://www.johnsonfistel.com/investigations/d-wave-quantum-inc/

For more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.

There is no cost or obligation to you.

What Is the D-Wave Class Action About?

D-Wave develops and sells quantum computing systems and services, generating revenue through quantum computing as a service, professional services, and quantum computing system sales.

According to the first amended complaint, defendants made materially false and misleading statements concerning D-Wave’s bookings, system-sales pipeline, commercial momentum, and anticipated revenue during the Class Period.

Specifically, the complaint alleges that defendants failed to disclose that:

  1. D-Wave’s bookings had declined in 2025 despite statements emphasizing meaningful growth and exceptional commercial momentum;
  2. The Company’s reported record bookings during the first quarter of 2026 consisted predominantly of contracts announced before the Class Period, rather than evidence of accelerating commercial adoption;
  3. D-Wave was not on track to convert its purported system-sales pipeline into new bookings at the pace represented to investors; and
  4. The delivery and installation of certain quantum computing systems, and associated revenue recognition, were expected to slip into the fourth quarter of 2026 and 2027.

The complaint alleges that these undisclosed conditions rendered defendants’ statements about D-Wave’s business, operations, and financial prospects materially false or misleading.

What Happened to D-Wave’s Stock?

On August 6, 2026, D-Wave announced its second-quarter 2026 financial results, reporting bookings of approximately $2.1 million, a substantial decline from $33.4 million in the preceding quarter. The Company also reported quarterly revenue of approximately $3.1 million, below analysts’ consensus estimate of $4.03 million, and a net loss of $0.13 per share, compared with an expected loss of $0.09 per share.

During the accompanying earnings call, D-Wave disclosed that both quantum computing systems it expected to ship in 2026 were likely to ship in the fourth quarter, with installation and calibration extending into 2027. According to the complaint, these disclosures contradicted earlier representations regarding the Company’s system-sales pipeline and anticipated deliveries.

On this news, D-Wave’s stock price fell approximately 9.26%, closing at $19.41 per share on August 6, 2026.

On August 25, 2026, D-Wave announced that Chief Financial Officer John M. Markovich would resign effective September 2, 2026. The complaint alleges that Markovich notified the Company of his decision on August 19, 2026, less than two weeks after the second-quarter disclosures and approximately two months after selling substantial amounts of D-Wave stock.

The complaint further alleges that defendants Alan Baratz and John Markovich sold approximately 1.3 million D-Wave shares during the Class Period for total proceeds of approximately $34.8 million.

Following the CFO departure announcement, D-Wave’s stock price declined approximately 9.51%, closing at $17.51 per share on August 26, 2026, according to the complaint.

What Is a Lead Plaintiff?

A lead plaintiff is a court-appointed investor who represents the proposed class in directing the litigation. Investors seeking appointment as lead plaintiff must file their motions with the Court by December 15, 2026.

Serving as lead plaintiff is not required to participate in any potential recovery. Investors may retain counsel of their choice, take no action, or remain absent members of the proposed class. No class has yet been certified.

About Johnson Fistel, PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder-rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This press release may be considered a promotional communication. Frank J. Johnson is the attorney responsible for this communication.

Contact

Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations
(619) 814-4471
jimb@johnsonfistel.com
https://www.johnsonfistel.com/

SOURCE Johnson Fistel, PLLP


Primary Logo

Media gallery

About The Author
Johnson Fistel, PLLP