Intellia Therapeutics, Inc. Class Action Lawsuit - NTLA
Case Summary
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The Intellia class action lawsuit seeks to represent purchasers or acquirers of Intellia Therapeutics, Inc. (NASDAQ: NTLA) securities between July 30, 2024 and January 8, 2025, inclusive (the “Class Period”). Captioned Gonzalez v. Intellia Therapeutics, Inc., No. 25-cv-10353 (D. Mass.), the Intellia class action lawsuit charges Intellia and certain of Intellia’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Intellia class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Intellia class action lawsuit must be filed with the court no later than April 14, 2025.
CASE ALLEGATIONS: Intellia is a genome editing company that focuses on the development of curative therapeutics. According to the complaint, on July 30, 2024, Intellia announced the authorization of its Clinical Trial Application by the United Kingdom’s Medicine and Healthcare products Regulatory Agency to initiate a Phase 1/2 study evaluating NTLA-3001 for the treatment of alpha-1 antitrypsin deficiency-associated lung disease.
The Intellia class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to the viability of NTLA-3001’s development and eventual marketing, if approved; (ii) Intellia’s optimistic reports of timelines, including dosing and future studies of the drug, fell short of reality; the NTLA program was not viable or sustainable for Intellia because viral-based editing programs remained expensive and inefficient in comparison to then-existing non-viral delivery methods; (iii) Intellia was not equipped to timely dose patients with NTLA-3001, maintain the drug’s research and development, or even to maintain its full staff in light of the existing scientific landscape surrounding viral-based editing drugs; and (iv) even if NTLA-3001 proved successful, the use of viral-based editing drugs is costly, inefficient, and poor mitigators of adverse effects in patients.
The Intellia class action lawsuit further alleges that on January 9, 2025, Intellia announced a company reorganization, disclosing that Intellia “made a difficult decision to focus our resources predominantly on NTLA-2002 and nex-z where we have the greatest opportunity to create significant, near-term value,” and “[p]ipeline priorities result in NTLA-3001 discontinuation and select, research-focused investment.” On this news, the price of Intellia stock fell more than 15%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Intellia securities during the Class Period to seek appointment as lead plaintiff in the Intellia class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Intellia class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Intellia class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Intellia class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.