#United States #New York #class action lawsuit #Faruqi & Faruqi #Intellia Therapeutics

Faruqi & Faruqi Issues Notice to Intellia Investors

In an important announcement, national securities law firm Faruqi & Faruqi, LLP, has reached out to Intellia Therapeutics, Inc. (NASDAQ: NTLA) investors regarding a pending class action lawsuit. This notice serves as a critical reminder that the deadline for investors aiming to seek the role of lead plaintiff is swiftly approaching on April 14, 2025.

Faruqi & Faruqi is known for its dedication to protecting investor rights, having successfully recovered hundreds of millions of dollars for aggrieved investors since the firm was established in 1995. This specific action centers around Intellia Therapeutics after allegations arose concerning potential misconduct on the part of the company and its executives. The firm is especially advocating for investors who sustained losses exceeding $50,000 between July 30, 2024, and January 8, 2025, to contact them directly to discuss legal options.

Background of the Allegations

The allegations range from making false or misleading statements to failing to disclose significant information related to Intellia’s Phase 1/2 clinical study of NTLA-3001, aimed at treating alpha-1 antitrypsin deficiency-associated lung disease. Notably, Intellia expressed confidence in its timetable for this study, stating that they expected to treat the first patient by the second half of 2024. However, it failed to inform investors that demand for viral-based gene editing solutions was declining as researchers began focusing on non-viral alternatives that are more cost-effective and efficient.

On January 9, 2025, Intellia disclosed its updated strategic objectives and major anticipated milestones for 2025. In a significant turn of events, the company announced it would halt the development of NTLA-3001 and shift its resources towards developing drug candidates NTLA-2002 and nex-z. This decision also involved laying off about 27% of its workforce. Such revelations resulted in an immediate market reaction, with Intellia’s stock price plummeting by $1.82, equating to a loss of 15.14%, closing at $10.20 per share the following day.

Seeking Lead Plaintiff Status

In class-action lawsuits, the lead plaintiff often has the largest financial interest in the relief sought. They work in tandem with legal counsel to oversee the litigation process and represent the interests of all class members. Intellia Therapeutics investors wishing to act as a lead plaintiff should reach out to the court with their request or can simply remain as passive members of the class. It’s important to note that taking on a lead plaintiff status will not impact the shareholder's ability to partake in any recovery that may arise from the suit.

Faruqi & Faruqi also welcomes tips from anyone with relevant information about Intellia Therapeutics, including whistleblowers, former employees, or existing shareholders.

For more information about the class action involving Intellia Therapeutics, navigate to Faruqi & Faruqi’s website or you can directly contact partner Josh Wilson at the firm at 877-247-4292 or 212-983-9330 (Ext. 1310).

This advisory signals a crucial juncture for affected investors as they weigh their options in light of recent developments with Intellia Therapeutics. The situation continues to evolve, demanding keen attention from those involved.