NEW
YORK, Nov. 14, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of
Metagenomi, Inc. (NASDAQ: MGX).
Shareholders who purchased shares of MGX during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/metagenomi-loss-submission-form/?id=111743&from=4
CLASS PERIOD: This lawsuit is on behalf of
all shareholders that purchased stock pursuant and/or traceable to
Metagenomi's registration statement for the initial public offering
held between February 9 and 13,
2024.
ALLEGATIONS: According to the complaint,
Metagenomi introduced itself to investors during its initial public
offering as a "genetic medicines company" having a long-standing
business relationship with Moderna, one of the leading Covid-19
vaccine companies. Integral to Metagenomi's collaboration with
Moderna was the claim that the two companies had entered into a
Strategic Collaboration and License Agreement on October 29, 2021, which included multiple
four-year research programs and a subsequent licensed
product-by-licensed product agreement. Metagenomi completed its
initial public offering on February 13,
2024, selling 6.25 million shares at $15 per share. However, less than three months
later, on May 1, 2024, Metagenomi
announced that it and Moderna had "mutually agreed to terminate
their collaboration" agreement. An analyst reported on the
announcement, noting that the news was surprising, as was its
timing. The analyst also noted that the partnership Metagenomi had
with Moderna was a critical part of the core thesis and that losing
this partnership during this early stage in development raised more
questions than answers. In response to the news, Metagenomi's stock
price declined from $7.04 per share
on May 1, 2024 to $6.17 per share on May 2,
2024.
DEADLINE: November 25,
2024 Shareholders should not delay in registering for
this class action. Register your information here:
https://securitiesclasslaw.com/securities/metagenomi-loss-submission-form/?id=111743&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you
register as a shareholder who purchased shares of MGX during the
timeframe listed above, you will be enrolled in a portfolio
monitoring software to provide you with status updates throughout
the lifecycle of the case. The deadline to seek to be a lead
plaintiff is November 25, 2024. There
is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is
a nationally recognized class action law firm, and our mission is
to protect the rights of all investors who have suffered as a
result of deceit, fraud, and illegal business
practices. The Gross Law Firm is committed to ensuring that
companies adhere to responsible business practices and engage in
good corporate citizenship. The firm seeks recovery on behalf of
investors who incurred losses when false and/or misleading
statements or the omission of material information by a company
lead to artificial inflation of the company's stock. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm