Quantum BioPharma Denies Unsubstantiated Securities Investigation Allegations, Vows Legal Action Against Law Firms

Quantum BioPharma Ltd. (NASDAQ:QNTM) (CSE:QNTM) (FRA: 0K91) (Upstream: QNTM) ("Quantum BioPharma" or the "Company"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development, today issued a formal response to the press releases published by The Schall Law Firm and DJS Law Group on October 9th and 10th , 2025, which announced an investigation into alleged securities law violations by the Company.

The Company strongly refutes the vague and unsubstantiated claims made in the releases, which fail to specify any factual basis or concrete allegations. Specifically, the Schall Law Firm's statement that it is "investigating claims on behalf of investors… for violations of the securities laws" and that the investigation "focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors" lacks any detail, context, or substantiation. These ambiguous assertions are misleading and appear designed to provoke unwarranted concern among shareholders.

Quantum BioPharma views the Schall Law Firm's and DJS Law Groups announcements as part of a broader pattern of opportunistic litigation tactics that seek to exploit public markets without merit. The Company is reviewing the conduct of both The Schall Law Firm and its principal, Brian Schall, Esq., as well as DJS Law Group and its principal David J Schwartz and will take all appropriate action to address what it believes to be a deliberate attempt to damage its reputation.

We would like to hear from any individual or entity who may have been treated unfairly or unjustly by Schall Law Firm's and DJS Law Groups or their associates. Your identity and information will be kept confidential.