Deadline Approaching for Investors
Investors who purchased Metagenomi, Inc. (“Metagenomi” or the “Company”) securities during the IPO have until November 25, 2024 to file a lead plaintiff motion. The case, filed on behalf of investors, concerns transactions made in relation to the Company’s February 2024 initial public offering.
Background
Metagenomi conducted its IPO on February 13, 2024, selling around 6.25 million shares at $15 per share. Unfortunately, on May 1, 2024, just three months post IPO, the company announced the termination of its collaboration with Moderna.
Following this news, the stock price of Metagenomi plummeted by $0.87, marking a 12.4% decrease, and closing at $6.17 per share on May 2, 2024.
Allegations and Claims
The class action complaint alleges that during the Class Period, Defendants failed to disclose critical information regarding the termination of the collaboration with Moderna. This lack of transparency resulted in misleading statements about the Company’s business, operations, and future prospects.
Legal Rights and Actions
Investors impacted by the IPO can approach the Court before November 25, 2024 to request to be appointed as lead plaintiff. To participate in the class action, no immediate action is required. Investors also have the option to choose their legal representation or opt to remain as inactive members of the class action.
For further inquiries about the case or to understand your rights as an investor, consider contacting Howard G. Smith, Esquire, of the Law Offices of Howard G. Smith.
