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Investigation announced for Investors in shares of Magenta Therapeutics, Inc. (NASDAQ: MGTA)

06-15-2020 10:04 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Magenta Therapeutics, Inc. (NASDAQ: MGTA) shares over potential securities laws violations.

An investigation for investors in Magenta Therapeutics, Inc. (NASDAQ: MGTA) shares over potential securities laws violations.

An investigation was announced concerning potential securities laws violations by Magenta Therapeutics, Inc. and certain of its directors and officers in connection with certain financial statements.

Investors who purchased shares of Magenta Therapeutics, Inc. (NASDAQ: MGTA), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Magenta Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cambridge, MA based Magenta Therapeutics, Inc., a clinical-stage biotechnology company, develops novel medicines to extend the curative power of stem cell transplant, gene therapy, genome editing, and cell therapy to patients.

On June 11, 2020, Magenta Therapeutics, Inc announced that the Company’s “strategic decision to discontinue enrollment in Phase 2 study of MGTA-456 in inherited metabolic disorders (IMDs) and prioritize resources toward stem cell mobilization and conditioning programs.” Magenta Therapeutics, Inc advised that its “decision was the result of several factors: enrollment challenges common to rare disease populations, particularly during the COVID-19 pandemic; a growing understanding in the field of the current challenges of allogeneic stem cell transplant in patients with non-malignant diseases, such as IMDs; and feedback from the FDA on endpoints and clinical trial design for registration.”

Shares of Magenta Therapeutics, Inc. (NASDAQ: MGTA) declined from $11.58 per share on June 8, 2020 to as low as $8.78 per share on June 12, 2020.

Those who purchased shares of Magenta Therapeutics, Inc. (NASDAQ: MGTA) have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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