Quantum BioPharma Ltd. Wins Significant Court Challenge in $700 Million Market Manipulation Lawsuit

Quantum BioPharma Ltd. announced a significant legal victory as the United States District Court for the Southern District of New York largely denied a joint motion to dismiss the Company's lawsuit against CIBC World Markets and RBC Dominion Securities. The lawsuit, filed by Quantum BioPharma, alleges illegal market manipulation through "spoofing" techniques between January 1, 2020, and August 15, 2024, which purportedly violated Sections 10(b) and 9(a) of the Securities Exchange Act of 1934. The court's ruling allows Quantum BioPharma's case to proceed, asserting claims of market manipulation impacting its share price. The Company is focused on developing innovative biopharmaceutical assets and biotech solutions, with a notable candidate, Lucid-MS, targeting neurodegenerative and metabolic disorders. Quantum BioPharma also retains an interest in Unbuzzd Wellness Inc. through its subsidiary Lucid Psycheceuticals Inc.