Metagenomi(US:MGX) Prnewswireยท2024-10-04 15:25Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Metagenomi, Inc. due to alleged violations of federal securities laws related to misleading statements about its collaboration with Moderna, which has led to significant investor losses [3][4][5]. Group 1: Company Overview - Metagenomi, Inc. is described as a "genetic medicines company" that had a collaboration with Moderna, a leading Covid-19 vaccine company [4]. - The company completed its initial public offering on February 13, 2024, selling 6.25 million shares at $15 per share [5]. Group 2: Legal Investigation - The law firm is encouraging investors who suffered losses exceeding $50,000 between February 9, 2024, and September 26, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Metagenomi, with a deadline of November 25, 2024, for investors to seek the role of lead plaintiff [1][6]. Group 3: Allegations and Impact - The complaint alleges that Metagenomi and its executives made false or misleading statements regarding their collaboration agreement with Moderna [3]. - Following the announcement of the termination of the collaboration agreement on May 1, 2024, Metagenomi's stock price fell from $7.04 to $6.17 per share within a day, indicating a negative market reaction [5].