Metagenomi Inc. Class Action Lawsuit - MGX
Case Summary
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The Metagenomi class action lawsuit seeks to represent purchasers of Metagenomi Inc. (NASDAQ: MGX) stock pursuant and/or traceable to Metagenomi’s registration statement issued in connection with Metagenomi’s initial public offering (“IPO”) held between February 9 and 13, 2024. Captioned Vreeland v. Metagenomi Inc., No. 24-cv-06765 (N.D. Cal.), the Metagenomi class action lawsuit charges Metagenomi and certain of Metagenomi’s top executives and directors with violations of the Securities Act of 1933.
If you suffered substantial losses and wish to serve as lead plaintiff of the Metagenomi 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 Metagenomi class action lawsuit must be filed with the court no later than November 25, 2024.
CASE ALLEGATIONS: Metagenomi introduced itself to investors during its IPO as a “genetic medicines company” having a long-standing business relationship with Moderna, Inc., one of the leading Covid-19 vaccine companies, according to the complaint.
The Metagenomi class action lawsuit alleges that the IPO’s offering documents provided false and/or materially misleading information concerning Metagenomi’s collaboration agreement with Moderna.
The Metagenomi class action lawsuit further alleges that on May 1, 2024, Metagenomi announced that it and Moderna had “mutually agreed to terminate their collaboration” agreement. On this news, the price of Metagenomi stock fell more than 12%, according to the complaint.
Since the IPO, the price of Metagenomi stock has fallen substantially below its $15.00 per share IPO price.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Metagenomi stock pursuant and/or traceable to the registration statement issued in connection with the IPO to seek appointment as lead plaintiff in the Metagenomi 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 Metagenomi class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Metagenomi class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Metagenomi 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.