WEST PALM BEACH, Florida, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Quantum Cyber N.V. (Nasdaq: QUCY) ("Quantum Cyber" or the "Company"), a Nasdaq-listed autonomous defense technology company assembling an AI-powered System-of-Systems platform for drone warfare, counter-UAS, and border security applications, today announced that it has filed a complaint in the Supreme Court of the State of New York, County of New York, against White Diamond Research LLC ("White Diamond"), Adam Gefvert, and Stocktwits, Inc. ("Stocktwits"). The complaint asserts causes of action for market manipulation and conspiracy to commit market manipulation under New York General Business Law Section 339, and for defamation, seeking damages over $5.69 million, together with exemplary damages.
As alleged in the complaint, on or about June 29, 2026, White Diamond published a report concerning the Company that contained false, misleading, and disparaging statements about the Company's business and its Chief Executive Officer. The complaint alleges that White Diamond markets itself publicly as "an Independent institutional-grade research" firm, while burying on a tertiary webpage on its own site it discloses that White Diamond "along with its clients, affiliates, and related entities, may have a short position in the securities discussed and stand to realize significant gains in the event that the price of the stock declines." The complaint further alleges, that both White Diamond and Mr. Gefvert likely profited from the effects of the report through short positions in QUCY.
The complaint further alleges that Stocktwits, which the Company had retained to disseminate its business and press releases, made a deliberate editorial decision to publish and amplify the White Diamond report through the "News" section of its platform to its more than five million registered users, and subsequently pushed the content onto Apple Stocks and Yahoo! Finance, making it available to hundreds of millions of additional readers. According to the complaint, at no point in its publication, dissemination, or accompanying commentary did Stocktwits or its staff writer include any disclaimer regarding White Diamond's position as a proprietary short-selling market participant. The complaint alleges that this omission led readers to the false impression that White Diamond was an independent research firm with no financial interest in a decline in QUCY's share price, and that Stocktwits published the report with reckless disregard for its truth or falsity.
The complaint alleges that between the market open on June 26, 2026 and the market close on June 30, 2026, QUCY securities declined approximately 13.7%, and that from June 29, 2026 through June 30, 2026, QUCY's reduced share price resulted in a decline exceeding approximately $5.69 million in market capitalization. The Company is represented by Morrison Cohen LLP.
Commenting on the filing, David Lazar, Chief Executive Officer of Quantum Cyber, stated:
"Investors have a right to know whether what they are reading is actually true or not. According to our complaint, White Diamond acknowledges on its own website, buried at the bottom of an obscure webpage, that they may hold short positions in the companies they write about, meaning they profit when those share prices fall. What Stocktwits then did, as alleged, was remove that context entirely: publishing and pushing the report to millions of readers, and onto Apple Stocks and Yahoo!Finance, without any disclosure that the author likely had a financial interest in our stock declining. That omission portrayed paid short-selling advocacy as objective news and gave investors a false representation of the nature of the report. Removing the disclosure did not make the report independent, it created the impression that it was. Our shareholders were misled, and we intend to hold every defendant accountable in a court of law."
The Company notes that the statements above summarize allegations made in the complaint filed with the Supreme Court of the State of New York, County of New York, and that the complaint is a matter of public record. The defendants have not yet responded to the complaint.
About Quantum Cyber N.V.
Quantum Cyber N.V. (Nasdaq: QUCY) is assembling an AI-powered, quantum-accelerated System-of-Systems autonomous defense platform that integrates drone warfare, counter-UAS, autonomous naval mine countermeasures, EMP shielding, anti-drone ammunition, command-and-control, and quantum antenna applications under a single Nasdaq-listed company. The Company acquires, licenses, and develops combat-proven autonomous technologies, deploying them as a coordinated, multi-domain portfolio across air, land, and sea. For more information, visit www.quantum-cyber.ai.
Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements relate to, among other things, the Company's expectations regarding the outcome of the litigation described herein; the recovery of damages, exemplary damages, interest, or costs; and any related legal or regulatory developments. Litigation is inherently uncertain, and no assurance can be given as to the timing, cost, or outcome of the proceedings referenced in this release. These forward-looking statements reflect the Company's current analysis of existing information and are subject to various risks and uncertainties. Due to known and unknown risks, actual results may differ materially from the Company's expectations or projections. Additional information concerning these and other factors may be found in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, which are available publicly at www.sec.gov. Any forward-looking statement made in this press release speaks only as of the date on which it is made, and the Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.
Investor Relations Contact
Arx Investor Relations
North American Equities Desk
qucy@arxhq.com
