Metagenomi, Inc. Securities Class Action Unveiled
In a dramatic turn of events, Metagenomi, Inc. faces a securities class action following its initial public offering in February 2024. The leading national shareholder rights law firm, Glancy Prongay & Murray LLP (GPM), unveiled the filing on behalf of investors who obtained Metagenomi, Inc. (MGX) securities during the IPO. Investors have until November 25, 2024, to assert themselves as lead plaintiff.
The IPO, which saw Metagenomi sell approximately 6.25 million shares at $15 per share on February 13, 2024, took a sudden downturn on May 1, 2024. The collaborative efforts between Metagenomi and Moderna came to an abrupt halt, sending shockwaves through the market.
The fallout was swift, with Metagenomi’s stock plummeting by $0.87 or 12.4%, closing at $6.17 per share on May 2, 2024.
Allegations in the class action complaint point to misleading statements and the failure to disclose critical information about Metagenomi’s business trajectory. The investors were left in the dark about the termination of the partnership with Moderna, leading to a surge in misinformation that greatly impacted their investments.
If you were part of the investment pool during the IPO and suspect foul play, now is the time to make your voice heard. Take a stand before November 25, 2024, to influence the court’s decision in appointing a lead plaintiff. Remember, even by taking no action, you still retain your rights as a member of the Class.
For those seeking more details or guidance on this unfolding situation, contact Charles Linehan, Esquire, of GPM. Reach out via 310-201-9150, Toll-Free at 888-773-9224, or email shareholders@glancylaw.com. Your path to justice may just be a call or click away.