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Court consolidates Quantum BioPharma market manipulation lawsuits against CIBC and RBC, appoints lead counsel
QNTMQuantum Biopharma Ltd.
The United States District Court for the Southern District of New York has agreed to consolidate Quantum BioPharma’s direct action and a class action alleging illegal stock market manipulation by Canadian banks CIBC and RBC. The court appointed Grant & Eisenhofer P.A. as lead counsel in the consolidated class action. The lawsuits allege that defendants used spoofing techniques between 2020 and 2025 to manipulate Quantum BioPharma's share price, causing material harm to shareholders who sold securities during that period. This ruling represents a procedural development in the ongoing litigation but does not constitute a determination on the merits of the claims or any finding of liability or damages. Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for neurodegenerative, metabolic, and alcohol misuse disorders.