Class Action Filed Against Metagenomi, Inc. (MGX) - November 25, 2024 Deadline to Join

Core Viewpoint - The Gross Law Firm is notifying shareholders of Metagenomi, Inc. regarding a class action lawsuit related to the company's initial public offering and subsequent termination of its collaboration with Moderna, which has led to a significant decline in stock price [1][3]. Group 1: Company Overview - Metagenomi, Inc. is characterized as a "genetic medicines company" that had a strategic collaboration with Moderna, a leading Covid-19 vaccine company [3]. - The company completed its initial public offering on February 13, 2024, selling 6.25 million shares at a price of $15 per share [3]. Group 2: Allegations and Impact - The lawsuit alleges that Metagenomi misled investors regarding its collaboration with Moderna, which was a critical aspect of its business model [3]. - Following the announcement of the termination of the collaboration on May 1, 2024, Metagenomi's stock price fell from $7.04 per share to $6.17 per share within a day, indicating a significant market reaction to the news [3]. Group 3: Legal Proceedings - Shareholders who purchased shares during the class period from February 9 to 13, 2024, are encouraged to register for the class action lawsuit, with a deadline for lead plaintiff appointment set for November 25, 2024 [2][4]. - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to misleading statements or omissions by the company [5].