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REDDIT
$ARQQ quantum encryption SPAC, fake contracts, stock collapsed. Deadline June 22.
Classic deep tech SPAC playbook on this one.
UK cybersecurity company. Quantum encryption pitch. SPAC merger September 2021. Multi-year customer agreements promoted. Stock runs.
Then: those "contracts" turn out to be **non-binding MOUs.** Technology readiness overstated. Reports surface in 2022 questioning everything. Stock collapses. Lawsuit filed. $7M settlement. [Applications open](http://11th.com/cases/arqit-investors-lawsuit) right now.
**Deadline: June 22. Six weeks out.**
You're eligible if you held $ARQQ between **September 7, 2021 and December 13, 2022.** Payout: \~$0.23/share.
Quantum + cybersecurity + SPAC in 2021 was basically a hype trifecta, anyone here catch this one on the way up?