The Gross Law Firm Notifies Metagenomi, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - MGX

Core Viewpoint - Metagenomi, Inc. is facing a class action lawsuit following the termination of its collaboration with Moderna, which was a significant aspect of its initial public offering narrative [3]. Group 1: Company Background - Metagenomi, Inc. is characterized as a "genetic medicines company" and 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 $15 per share [3]. Group 2: Allegations and Impact - The lawsuit alleges that Metagenomi misled investors regarding its collaboration with Moderna, which was critical to 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 to $6.17 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 [2][4]. - The deadline for shareholders to seek lead plaintiff status is November 25, 2024 [4].