Class Action Filed Against Intellia Therapeutics Amid Workforce Cuts

NEW YORK, Feb. 18, 2025 /PRNewswire/ — Pomerantz LLP has announced a class action lawsuit against Intellia Therapeutics, Inc. (“Intellia” or the “Company”) NTLA. Investors who may be affected are encouraged to contact Danielle Peyton at newaction@pomlaw.com or call 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those reaching out by email should include their mailing address, phone number, and the number of shares purchased.

This class action centers on allegations that Intellia and some of its officers and/or directors may have engaged in securities fraud or other illegal business activities.

Shareholders have until April 14, 2025 to request their appointment as Lead Plaintiff in the case if they purchased Intellia securities during the Class Period. A copy of the Complaint is available at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On January 9, 2025, Intellia released a statement outlining its “strategic priorities and key anticipated 2025 milestones.” The company detailed its decision to direct resources toward developing drug candidates NTLA-2002 and nex-z while discontinuing the NTLA-3001 project, a change that will lead to a 27% workforce reduction. Consequently, Intellia is expected to face costs of approximately $8 million in the first quarter of 2025 due to the restructuring. Additionally, the company announced the retirement of its Chief Scientific Officer, Laura Sepp-Lorenzino, Ph.D.

Following this news, Intellia’s stock price dipped $1.82 per share, resulting in a 15.14% drop, closing at $10.20 per share on January 10, 2025.

Founded by the late Abraham L. Pomerantz, recognized as a pioneer in securities class action litigation, Pomerantz LLP has consistently fought for victims of securities fraud and corporate wrongdoing for over 85 years. The firm has secured numerous multimillion-dollar settlements for class members across its offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv. More information can be found at www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP