SPRO, LMPX & IONQ Class Actions: Bronstein, Gewirtz & Grossman, LLC, A Leading Class Action Firm, Reminds Investors to Contact the Firm and Actively Participate

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LMP Automotive Holdings, Inc.
500 East Broward Boulevard, Suite 1900
Fort Lauderdale, FL 33394
[email protected]

July 6, 2022 11:45 AM

SPRO, LMPX & IONQ Class Actions: Bronstein, Gewirtz & Grossman, LLC, A Leading Class Action Firm, Reminds Investors to Contact the Firm and Actively Participate

NEW YORK, July 06, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Spero Therapeutics, Inc. (NASDAQ: SPRO)
Class Period:October 28, 2021 - May 2, 2022
Deadline:July 25, 2022
For more info:www.bgandg.com/spro.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the data submitted in support of the Tebipenem HBr NDA were insufficient to obtain FDA approval; (2) accordingly, it was unlikely that the FDA would approve the Tebipenem HBr NDA in its current form; (3) the foregoing would necessitate a significant workforce reduction and restructuring of Spero's operations; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

LMP Automotive Holdings, Inc. (NASDAQ: LMPX)
Class Period:June 29, 2021 - May 19, 2022
Deadline:July 26, 2022
For more info:www.bgandg.com/lmpx.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: investors: (1) that the Company engaged in the improper identification and elimination of intercompany transactions; (2) that the Company used incorrect estimates for chargeback reserves for finance and insurance products; (3) that the Company had misclassified certain items in its financial statements which impacting balance sheet and income statement financial statement captions; (4) that there were material weaknesses in LMP's internal control over financial reporting; (5) that, as a result of the foregoing, the Company overstated its revenue; (6) that, as a result of the foregoing, the Company would restate certain of its previously issued financial statements and results; and (7) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

IonQ, Inc. (NYSE: IONQ)
Class Period:March 30, 2021 - May 2, 2022
Deadline:August 1, 2022
For more info:www.bgandg.com/ionq.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that IonQ had not yet developed a 32-qubit quantum computer; (2) that the Company's 11-qubit quantum computer suffered from significant error rates, rendering it useless; (3) that IonQ's quantum computer is not sufficiently reliable, so it is not accessible despite being available through major cloud providers; (4) that a significant portion of IonQ's revenue was derived from improper round-tripping transactions with related parties; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 |[email protected]

News Provided by GlobeNewswire via QuoteMedia

LMP Automotive Holdings Inc. (LMPX)

$5.590.02(0.36%)

Bid: 5.50 x 300Ask: 5.59 x 100

July 6, 2022 11:26 AMEDTVolume: 9,815

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