Levi & Korsinsky Invites Intellia Investors to Join Class Action Against NTLA Allegations

Intellia Therapeutics Faces Class Action Lawsuit from Investors

In an important announcement, Levi & Korsinsky, LLP has made it known that investors in Intellia Therapeutics, Inc. (NASDAQ: NTLA) are invited to participate in a class action lawsuit. This legal action is aimed at those who suffered losses tied to alleged securities fraud occurring from July 30, 2024, to January 8, 2025. With a deadline of April 14, 2025, investors are urged to act swiftly to protect their rights.

Overview of the Class Action

This lawsuit seeks to recover losses for Intellia investors. The complaint highlights an ongoing legal case that alleges significant misrepresentation by company executives concerning the company’s Phase 1/2 clinical trial for NTLA-3001, a treatment targeted at alpha-1 antitrypsin deficiency (AATD)-associated lung disease. Crucially, investors were given assurances regarding the trial's progress and were led to believe that the initial patient would be dosed in the latter half of 2024.

However, the lawsuit claims that vital information regarding the project's viability was never disclosed. It has come to light that demand for viral-based gene editing was diminishing, with a shift towards non-viral delivery methods gaining preference within the scientific community due to their cost-effectiveness and efficiency. As a result, NTLA-3001, initially viewed as a promising program, was rendered less viable for the company’s future.

The situation escalated dramatically on January 9, 2025, when Intellia announced a major reorganization. This included halting all research related to NTLA-3001 and a planned reduction of their workforce by 27% for the upcoming year. The company indicated a strategic pivot towards other pharmaceutical developments, revealing that NTLA-3001 was no longer a focal point of their pipeline priorities. Following this news, Intellia's stock plummeted from $12.02 per share on January 8 to $10.20 just two days later, reflecting investors' immediate loss of confidence.

What Investors Should Do

For investors who experienced financial losses during the specified period, there remains a critical opportunity to act before the April deadline. Participation does not require investors to act as lead plaintiffs to share in any potential recovery, and the legal process poses no upfront costs to class members.

Levi & Korsinsky prides itself on a solid track record, with over two decades of experience and a reputation for securing considerable settlements for aggrieved shareholders. The firm has assisted in litigation cases resulting in hundreds of millions of dollars in financial recoveries for those affected by corporate misconduct.

In conclusion, investors affected by the recent downturn linked to Intellia Therapeutics' stock are encouraged to reach out and explore their legal options. This situation serves as a reminder of the inherent risks involved in biotechnology investments, particularly when larger external factors influence the outcomes of clinical developments. To learn more about filing a claim or joining the class action, investors can visit the firm's website or directly contact an attorney at Levi & Korsinsky.

Contact Information

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: info@zlk.com
Phone: (212) 363-7500
Fax: (212) 363-7171