Metagenomi, Inc. (NASDAQ: MGX)

This lawsuit is for anyone who acquired securities in Metagenomi, Inc. (NASDAQ: MGX) from February 6, 2024 through September 26, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company’s IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to include in the IPO the fact that the Company’s collaboration with Moderna would terminate in the immediate future.

On February 13, 2024, Metagenomi conducted its IPO, selling approximately 6.25 million shares at $15 per share. However, on May 1, 2024, less than three months after the IPO, Metagenomi announced that it and Moderna had “mutually agreed to terminate their collaboration.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume and was lower on September 26, 2024 than on the IPO.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Metagenomi, Inc. (NASDAQ: MGX) from February 6, 2024 through September 26, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.