NEW
YORK, Nov. 7, 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=110879&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=110879&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
