NEW
YORK, Oct. 23, 2024 /PRNewswire/ -- On Sunday,
Freedman Normand Friedland LLP ("FNF"), with co-counsel Christian
Attar, filed a market manipulation case on behalf of firm client,
Quantum Biopharma Ltd. (Nasdaq: QNTM) (CSE: QNTM), against CIBC
World Markets, Inc. ("CIBC"), RBC Dominion Securities Inc. ("RBC"),
and others.
In the complaint, Quantum Biopharma alleges that
the defendants manipulated the price of its stock more than a
thousand times over a four-year period, and that the defendants'
manipulative trading practices caused significant harm to both
Quantum Biopharma and its shareholders. Specifically, Quantum
Biopharma alleges that the defendants repeatedly
engaged in "spoofing"—a form of unlawful market manipulation
whereby traders place sell-side orders they don't intend to fill,
in order to put downward pressure on the price of a security so
they can purchase it at an artificially low price. Quantum
Biopharma further alleges that it was harmed by the
defendants' "spoofing," because it sold shares of its stock during
this period at artificially depressed prices.
Quantum Biopharma is seeking, among other forms of relief,
damages to compensate it for its alleged losses.
About Freedman Normand Friedland LLP
Freedman Normand Friedland is a high-end litigation
boutique with offices in New York,
Miami, and Boston. The firm
and its attorneys have extensive experience in complex commercial
litigation, including in path-breaking antitrust, securities, and
market manipulation matters.
Contact: media@fnf.law
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SOURCE Freedman Normand Friedland LLP
