Investors Reminded: Important Deadline for Metagenomi Class Action Lawsuit

The Law Offices of Frank R. Cruz is alerting investors about the approaching November 25, 2024 deadline for filing a lead plaintiff motion in a class action on behalf of shareholders who purchased Metagenomi, Inc. (“Metagenomi” or the “Company”) MGX securities linked to the Company’s February 2024 initial public offering (the “IPO”).

If you are a shareholder who suffered a loss, click here to participate.

Background on the IPO: Metagenomi launched its IPO on February 13, 2024, successfully selling around 6.25 million shares at $15 per share. Unfortunately, within just a few months, the company faced difficulties.

On May 1, 2024, Metagenomi revealed that it and Moderna had “mutually agreed to terminate their collaboration.” This announcement led to a significant drop in Metagenomi’s stock price, which fell by $0.87, or 12.4%, closing at $6.17 per share on May 2, 2024.

Claims in the Class Action: The lawsuit claims that during the Class Period, the Defendants made false or misleading statements, failing to disclose critical information about the Company’s business and future collaborations. Specifically, they did not inform investors that the partnership with Moderna would be ending and that previous positive statements about the Company’s outlook were misleading.

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Next Steps for Investors: If you bought or acquired Metagenomi securities related to the IPO, you have until November 25, 2024 to request the lead plaintiff position in this class action lawsuit. Currently, no action is required if you wish to be a class member; you can either hire a lawyer or remain uninvolved while still being part of the class action. For more details or inquiries regarding your rights in this case, contact Frank R. Cruz at The Law Offices of Frank R. Cruz, located at 2121 Avenue of the Stars, Suite 800, Century City, California 90067, at 310-914-5007, or via email at info@frankcruzlaw.com. Remember to include your mailing address, phone number, and the number of shares you purchased if reaching out via email.

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