Class action filed in District of Massachusetts on behalf of all persons and entities that purchased or otherwise acquired (or still own) Moderna, Inc. (“MRNA”)

CHARLESTON, SOUTH CAROLINA, UNITED STATES, August 19, 2024 /EINPresswire.com/ -- Poulin Willey Anastopoulo LLC announces that a class action has been filed in the United States District Court for the District of Massachusetts on behalf of all persons and entities that purchased or otherwise acquired (or still own) Moderna, Inc. (“MRNA” or the “Company”) (NASDAQ:MRNA) between January 18, 2023 and June 25, 2024, both dates inclusive (the “Class Period”).

Plaintiff is pursuing claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). 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.

According to the Complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or 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.

The Complaint, Case 1:24-cv-12058, alleges that the truth began to emerge on May 31, 2024, when the Company issued a press release containing adverse information concerning the vaccine efficacy of mRNA-1345 was 78.7%, significantly lower than what was previously represented. On this news, Moderna’s stock price declined $8.94 per share, or 5.9%, to close at $142,55 per share on May 31. 2024.

Then, on June 26, 2024, Moderna disclosed additional adverse news about the efficacy of mRNA-1345. That same day, Bloomberg published an article containing additional adverse information about the drug. Moderna stock fell as much as 11%, another significant loss.

Investors who purchased or otherwise acquired (or currently own) MRNA should contact the Firm before October 8, 2024, the lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this securities class action, please contact Ahmad Jackson at 803-222-222 or via e-mail at ahmad.jackson@poulinwilley.com.

Any additional questions may be directed to Stuart J. Guber, Esq, at stuart.guber@poulinwilley.com, the Firm’s Director of Shareholder Services and Securities Litigation, with almost 35 years of experience representing public pension funds, Taft-Hartley union pension plans and health & welfare funds, and high net-worth investors and other individuals in securities class actions and opt-out litigation.

In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Poulin | Willey | Anastopoulo has offices in Florence, Charleston, Ladson, Columbia, Greenville, Lexington, Myrtle Beach, Rock Hill, and Hampton, South Carolina. Charlotte and Lumberton, North Carolina. Atlanta, Albany, Athens, Augusta, Columbus and Macon in Georgia. Visit: RespectResults.com to learn more.

Stuart Guber
Poulin | Willey | Anastopoulo
+1 8032222222
stuart.guber@poulinwilley.com