Pomerantz Law Firm Files Class Action Against Intellia Therapeutics for Alleged Securities Fraud

Investor Alert: Class Action Against Intellia Therapeutics

The Pomerantz Law Firm has officially announced that a class action lawsuit has been initiated against Intellia Therapeutics, Inc. (NASDAQ: NTLA). Investors who have suffered losses on their investments in Intellia are urged to reach out to the firm for further information regarding this case.

Background on Intellia Therapeutics

Intellia is a biotechnology company focused on developing transformative medicines using its proprietary CRISPR/Cas9 technology for gene editing. Recently, the firm faced a significant shift in its strategic direction, which has raised investor concerns and spurred this legal action.

On January 9, 2025, Intellia announced a major restructuring, which included focusing on key drug candidates while discontinuing the development of several others. Specifically, this move involved a reduction in workforce by about 27%, which affects numerous employees at the company. Intellia anticipated incurring approximately $8 million in charges in the first quarter of 2025 related to these restructuring activities.

Key Allegations of the Class Action

The class action lawsuit claims that Intellia and its executives may have engaged in securities fraud or other illicit business practices. As the company’s strategic priorities shifted, many investors experienced a sharp decline in stock value. Following the announcement on January 9, Intellia’s stock plummeted by $1.82 per share, representing a 15.14% decrease, ultimately closing at $10.20 per share on January 10, 2025.

This decline in stock value has led to significant financial losses for numerous investors who may not have been adequately informed of the potential risks associated with the company's decision-making process. The lawsuit seeks to hold Intellia accountable for these drops in stock value and aims to provide restitution to affected investors.

Important Deadlines and Contact Information

Investors who purchased or acquired Intellia securities during the class period should act quickly. The deadline to move for Lead Plaintiff status in this class action is April 14, 2025. Those interested in joining this class action are encouraged to contact Danielle Peyton at Pomerantz Law Firm. Interested parties must provide their mailing address, telephone number, and details regarding the number of shares they purchased.

About Pomerantz Law Firm

Pomerantz LLP is well-respected in the field of corporate litigation, especially regarding securities and antitrust class actions. Established more than 85 years ago, the firm continues to champion the rights of investors and aims to recover damages for those affected by corporate misconduct.

For more information on how to get involved in this class action lawsuit, interested parties can reach out through their website or directly via phone and email.

As the situation unfolds, this case will be significant for those invested in Intellia Therapeutics. Investors are encouraged to stay informed and take necessary actions to protect their interests.