D-Wave Quantum (QBTS) Stock News: Two Securities Suits Filed Over Revenue Timing

Two D-Wave Quantum investors have filed proposed securities class actions in the Northern District of California, according to OpenClassActions. Fessler v. D-Wave Quantum (No. 5:26-cv-11953) was filed October 15, 2026 and Lawrence v. D-Wave Quantum (No. 3:26-cv-12155) on October 20. Both name the company, chief executive Alan Baratz and chief financial officer John Markovich under Sections 10(b) and 20(a) of the Securities Exchange Act.

What the complaints allege#

The first complaint says that from February 26 through August 25, 2026 the defendants materially overstated D-Wave’s business and financial prospects, so the stock traded at inflated prices until two August announcements. The second focuses on the timing of revenue from quantum-system sales, including a $20 million sale to Florida Atlantic University, and adds an earlier alleged corrective disclosure on May 12, 2026. The cases have not been consolidated, and D-Wave has not responded.

Where it stands#

These are complaints at the earliest stage. Nothing has been proven, no class is certified, and there is no settlement or claim form. Lead-plaintiff deadlines set by plaintiffs’ counsel are not claim deadlines.

Why it matters for the stock#

For readers following QBTS, the suits formalize a question investors were already asking after the August results: how much of D-Wave’s revenue comes from lumpy system sales versus recurring cloud and services. Securities suits after a sharp drop are common and many are dismissed; the motion-to-dismiss ruling, likely months away, is the first real signal.

Read the full case page on OpenClassActions.

Published October 21, 2026. Informational reporting, not legal or investment advice. TickerPosts and OpenClassActions.com share a founder. Settlements resolve claims without an admission of wrongdoing, and allegations in pending lawsuits are unproven.