Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Metagenomi, Inc. (MGX)
BENSALEM, Pa.--(BUSINESS WIRE)--Oct 1, 2024--
Law Offices of Howard G. Smith reminds investors of the upcoming November 25, 2024 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Metagenomi, Inc. (“Metagenomi” or the “Company”) (NASDAQ: MGX ) securities pursuant and/or traceable to the Company’s February 2024 initial public offering (the “IPO”).
Investors suffering losses on their Metagenomi investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 13, 2024, Metagenomi conducted its IPO, selling approximately 6.25 million shares at $15 per share. However, on May 1, 2024, less than three months after the IPO, Metagenomi announced that it and Moderna had “mutually agreed to terminate their collaboration.”
On this news, Metagenomi’s stock price fell $0.87, or 12.4%, to close at $6.17 per share on May 2, 2024.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Metagenomi’s collaboration with Moderna would not extend into the future but instead terminate in the immediate future; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Metagenomi securities pursuant and/or traceable to the IPO, you may move the Court no later than November 25, 2024 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20241001320401/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
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