Robbins LLP is Investigating Allegations that Moderna, Inc. (MRNA) Misled Investors Regarding the Efficacy of its RSV Vaccine

Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Moderna, Inc. (NASDAQ: MRNA) securities between January 18, 2023 and June 25, 2024. Moderna is a biotechnology company that discovers, develops, and commercializes messenger RNA (“mRNA”) therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the U.S., Europe, and internationally. 

The Allegations

According to the complaint, the Company’s products include, inter alia, mRESVIA (mRNA-1345), an mRNA respiratory syncytial virus (“RSV”) vaccine, intended to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection. Plaintiff alleges that during the class period, defendants failed to disclose that: (i) mRNA-1345 was less effective than defendants had led investors to believe; (ii) accordingly, mRNA-1345’s clinical and/or commercial prospects were overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

When the truth regarding the vaccine's lack of efficacy was revealed, the price of Moderna's stock declined. On June 26, 2024, the price of Moderna's stock fell approximately 11%.

What Now: You may be eligible to participate in the class action against Moderna, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by October 8, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.