Quantum BioPharma Sues CIBC, RBC & Others For $700 Million Alleging Spoofing/Short Selling Stock Manipulation

Quantum BioPharma (Formerly FSD Pharma) has filed a groundbreaking $700 million lawsuit against major Canadian banks, CIBC and RBC, alleging a scheme of stock price manipulation known as "spoofing." CEO and Co-Chairman Zeeshan Saeed explains that this isn’t just a shot in the dark—industry experts estimate that damages could exceed $1 billion for $QNTM.  The company’s legal team, confident in the strength of the case, has agreed to take it on a contingency basis, signaling their belief that this could be a watershed moment for both Quantum BioPharma and the entire small cap sector. “Our goal is to seek justice for our shareholders and stop manipulative practices that hurt ordinary investors,” Saeed stated, underscoring the severity of the issue. SPOOFING: A MARKET MANIPULATION TACTIC WITH HIGH STAKES The crux of the lawsuit revolves around a deceptive trading tactic known as spoofing, where large orders are placed and then canceled to manipulate stock prices. According to Zeeshan, this method has been used by CIBC and other financial institutions to artificially drive down Quantum BioPharma’s share price, resulting in significant losses. This isn’t an isolated issue—similar market manipulation has been flagged by advocacy groups like Save Canadian Mining. The case has been filed in the U.S. District Court for the Southern District of New York, a jurisdiction known for its expertise in financial offenses. Zeeshan emphasized the importance of this venue, noting that "the judges understand the nuances of these complex financial crimes." FIGHTING FOR SHAREHOLDERS Beyond the financial toll, the impact on shareholder confidence has been severe. Zeeshan spoke candidly about the personal toll this manipulation has taken, including threats to his safety. Yet, he remains steadfast in his commitment to Quantum BioPharma's future, outlining a strategy that could see the company investing in its pipeline and potentially issuing dividends to shareholders if the lawsuit is successful. George and Zeeshan both drew comparisons to landmark legal battles like the Erin Brockovich case, illustrating how a small player can take on corporate giants and make a real difference. If you enjoy David vs Goliath stories, watch or listen to this interview to see how this could transform Quantum BioPharma’s future and potentially end market manipulation in the small cap sector once and for all.