#United States #New York #Class Action #Levi Korsinsky #Intellia Therapeutics

Investors in Intellia Therapeutics Encouraged to Join Class Action Lawsuit

In a recent development, Levi & Korsinsky, LLP has alerted investors in Intellia Therapeutics, Inc. (NASDAQ: NTLA) about a securities class action lawsuit. The suit aims to recover losses suffered by shareholders due to alleged fraud related to the company's operations. This action comes in the wake of significant financial losses for investors over a specified period, from July 30, 2024, to January 8, 2025.

Class Action Details

The lawsuit focuses on claims that during the mentioned timeframe, Intellia misled investors, particularly about its Phase 1/2 study involving NTLA-3001. This gene-editing therapy was developed for treating lung disease associated with alpha-1 antitrypsin deficiency (AATD). Defendants allegedly provided overly optimistic timelines concerning the study's progression, asserting that the first patient would be dosed in the latter half of 2024. However, essential facts were reportedly withheld, creating a misleading narrative for potential and existing investors.

According to the lawsuit, what was not disclosed was a critical shift in the scientific community's focus. As the demand for viral-based editing waned, reliance pivoted toward non-viral delivery methods, which are recognized for being cost-effective and quicker to develop. This shift rendered the NTLA-3001 program less viable under Intellia’s operational strategy, a fact that was not communicated to investors until after adverse developments occurred.

On January 9, 2025, Intellia announced a significant company reorganization. The unexpected decision to halt all research and studies associated with NTLA-3001 coupled with a substantial workforce reduction of 27% cast a shadow over the company's future. Shares that closed at $12.02 per share on January 8 plummeted to $10.20 two days later, illustrating the immediate impact of this announcement on market confidence.

What Investors Should Do Next

If you experienced financial losses linked to Intellia during the relevant period, it is critical to act swiftly. You have until April 14, 2025, to request that the court appoint you as the lead plaintiff in this class action. It's worth noting that participating in this legal action does not require you to serve as a lead plaintiff to share in any potential recovery.

No Financial Risk to Participants

One of the most reassuring aspects of this legal process is that class members may be entitled to compensation at no cost. There are no out-of-pocket expenses or fees incurred for investors who choose to participate in this lawsuit, making it a low-risk opportunity for those affected by Intellia's alleged mismanagement.

The Firm Behind the Action

Levi & Korsinsky boasts over 20 years of experience in safeguarding shareholder rights, recovering hundreds of millions of dollars for affected investors. Their firm specializes in complex securities litigation, equipped with a team of over 70 professionals dedicated to serving the interests of their clients. Notably, the firm has been recognized for seven consecutive years in the ISS Securities Class Action Services' Top 50 Report, highlighting its prominent position in the field of securities litigation in the U.S.

For those seeking more information or wishing to discuss their potential involvement in this class action lawsuit, Levi & Korsinsky can be contacted directly. Joseph E. Levi, Esq. is available for further inquiries via email at [email protected] or by phone at (212) 363-7500.

Investors are advised to stay alert for updates regarding the class action and to consider their rights and options in this concerning situation pertaining to Intellia Therapeutics.