#United States #New York #Levi Korsinsky #Intellia Therapeutics #NTLA

Class Action Lawsuit Filed for Intellia Therapeutics Investors

Levi & Korsinsky, LLP has formally notified investors of Intellia Therapeutics, Inc. (NASDAQ: NTLA) regarding a securities class action lawsuit. This legal action seeks to recover losses incurred by shareholders who were negatively impacted by potential securities fraud spanning from July 30, 2024, to January 8, 2025.

Background of the Case

The lawsuit arises from allegations suggesting that information critical to investors was withheld regarding Intellia's Phase 1/2 study of NTLA-3001, a treatment for alpha-1 antitrypsin deficiency (AATD)-associated lung disease. According to the complaint, the defendants — presumably senior executives or officers of the company — expressed confidence in the study's future, indicating a scheduled first patient dosing in the latter part of 2024. However, they failed to reveal that the demand for viral-based editing was diminishing as the scientific community shifted focus towards more cost-effective non-viral delivery alternatives. This strategic oversight raises serious concerns about the viability of NTLA-3001, effectively putting Intellia's stakeholders at risk without their knowledge.

Key Developments and Market Reaction

On January 9, 2025, the truth came to light when Intellia published a press release disclosing a significant organizational restructure. This announcement detailed plans to terminate all research and studies related to NTLA-3001 and implement a workforce reduction of 27% in 2025. As part of broader corporate strategy adjustments, management acknowledged that focusing on alternative pharmaceutical developments was necessary, leading to the decision to discontinue NTLA-3001.

Following this news, Intellia’s stock plummeted from a closing price of $12.02 per share on January 8, 2025, to $10.20 per share by January 10, 2025. This dramatic shift in share price underscores the potential damage to investor confidence and the financial ramifications of the company's alleged failures to inform its shareholders accurately.

Next Steps for Affected Shareholders

Investors who suffered losses during the specified period are urged to act promptly, as the deadline for requesting the Court to appoint a lead plaintiff is April 14, 2025. Importantly, participation in any potential recovery does not necessitate one becoming a lead plaintiff.

If you believe you qualify as a class member, you could be entitled to compensation without facing any out-of-pocket expenses or fees, as confirmed by Levi & Korsinsky. Their track record includes securing hundreds of millions of dollars for aggrieved shareholders over the past two decades, showcasing the firm's capability and experience in handling complex securities litigation.

Why Choose Levi & Korsinsky?

Levi & Korsinsky has garnered a reputation for excellence and effectiveness within the legal community, consistently ranking amongst the top securities litigation firms in the U.S. as noted by ISS Securities Class Action Services. The firm is well-equipped with a team of over 70 professionals dedicated to serving its clients, further increasing the chances of successful outcomes for those impacted by investment losses.

Contact Information for Interested Investors

For further inquiries or guidance, investors are encouraged to reach out to:
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
Levi & Korsinsky, LLP
33 Whitehall Street, 17th Floor, New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500

Engagement in this lawsuit could be pivotal for shareholders looking to recuperate losses, emphasizing the importance of legal representation in navigating such significant corporate malfeasance.