Proposed Settlement of Class Action Announced in Arqit Quantum Inc. Securities Litigation

Proposed Settlement of Class Action Announced in Arqit Quantum Inc. Securities Litigation News provided by Kroll Settlement Administration Mar 03, 2026, 08:00 ET Share this article Share toX Share this article Share toX NEW YORK, March 3, 2026 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration regarding In re Arqit Quantum Inc. Securities Litigation, Case No. 1:22-cv-02604-PKC-SDE pending in the United States District Court for the Eastern District of New York. UNITED STATES DISTRICT COURTEASTERN DISTRICT OF NEW YORK IN RE ARQIT QUANTUM INC. SECURITIES LITIGATION No. 1:22-cv-02604-PKC-SDE SUMMARY NOTICE OFPROPOSED SETTLEMENT OF CLASS ACTION TO: ALL SETTLEMENT CLASS MEMBERS, I.E., (1) ALL BENEFICIAL HOLDERS OF CENTRICUS ACQUISITION CORP. ("CENTRICUS") UNITS OR CLASS A ORDINARY SHARES AS OF THE JULY 26, 2021 RECORD DATE FOR THE SPECIAL MEETING OF SHAREHOLDERS HELD ON AUGUST 31, 2021 TO CONSIDER APPROVAL OF THE MERGER BETWEEN ARQIT QUANTUM INC. ("ARQIT") AND CENTRICUS (THE "MERGER") ("SECTION 14(a) CLASS"); (2) ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED ARQIT ORDINARY SHARES AND/OR ARQIT WARRANTS ("ARQIT SECURITIES") IN CONNECTION WITH THE MERGER OR ON A U.S. STOCK EXCHANGE BETWEEN SEPTEMBER 7, 2021 AND DECEMBER 13, 2022, INCLUSIVE (THE "CLASS PERIOD") ("SECTION 10(b) CLASS"); AND (3) ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED ARQIT SECURITIES PURSUANT OR TRACEABLE TO THE EFFECTIVE "REGISTRATION STATEMENT" AND "PROSPECTUS" (COLLECTIVELY THE "OFFERING MATERIALS") FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ("SEC") FOR THE SEPTEMBER 2, 2021 OFFERING OF ARQIT SECURITIES IN CONNECTION WITH THE MERGER ("SECURITIES ACT CLASS"). THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION. PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. Capitalized terms used in this notice that are not otherwise defined are defined in the Stipulation and Agreement of Settlement, dated January 9, 2026 ("Settlement Agreement"), available at www.ArqitSecuritiesSettlement.com ("Settlement Website"). YOU ARE HEREBY NOTIFIED that a hearing will be held on June 1, 2026, at 2:00 p.m., before the Honorable Pamela K. Chen at the United States District Court, Eastern District of New York, 225 Cadman Plaza East, Courtroom 4F, Brooklyn, New York 11201, to determine whether: (1) the proposed Settlement of In re Arqit Quantum Inc. Securities Litigation, No. 1:22-cv-02604-PKC-SDE (E.D.N.Y.) (the "Action") and Plan of Allocation as set forth in the Settlement Agreement should be approved by the Court as fair, reasonable and adequate; (2) to enter the Judgment as provided under the Settlement Agreement dismissing the Action with prejudice; (3) to award Plaintiffs' Counsel attorneys' fees and expenses from the Settlement Fund, and, if so, in what amount; and (4) to award Lead Plaintiff Chris Weeks ("Lead Plaintiff") and Named Plaintiffs Patrick Hagemeister, Erwin Jay Lack, and Walter Littlejohn III (collectively with Lead Plaintiff, "Plaintiffs") costs and expenses (including lost wages) directly relating to their representation of the Class, and if so, in what amount. IF YOU HELD CENTRICUS CLASS A ORDINARY SHARES OR CENTRICUS UNITS AS OF JULY 26, 2021, OR PURCHASED OR OTHERWISE ACQUIRED ARQIT ORDINARY SHARES OR ARQIT WARRANTS IN THE MERGER OR DURING THE SEPTEMBER 7, 2021 TO DECEMBER 13, 2022, INCLUSIVE, CLASS PERIOD, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION This Summary Notice advises Settlement Class Members of information about the Action and the proposed Settlement. For additional details, read the Settlement Agreement and Longform Notice, which are available for download from www.ArqitSecuritiesSettlement.com, or by contacting the Claims Administrator at the contact information below. In the Settlement, Defendants have agreed to pay a Settlement Amount of $7,000,000 in cash in exchange for a release of Settlement Class Members' claims related to the Action. The Longform Notice, at pages 9-11, describes those releases in detail. After deductions of any Court-approved Notice and Administration Costs, Taxes and Tax Expenses, and a Fee and Expense Award of attorneys' fees and expenses and reimbursement for Plaintiffs' costs and expenses relating to their representation of the Class, the Net Settlement Fund will be divided among all Settlement Class Members who submit a valid Proof of Claim and Release form ("Claim Form") pursuant to the Court-approved Plan of Allocation. To share in the distribution of the Settlement Fund, you must submit a Claim Form and required documentation electronically through www.ArqitSecuritiesSettlement.com (no later than June 22, 2026) or by mail (postmarked no later than June 22, 2026). Failure to submit a timely Claim Form may preclude you from receiving payment. If you are a Settlement Class Member, and do not request exclusion from the Class, you will be bound by the Settlement and any judgment and