02:16 PM EDT, 08/12/2024 (MT Newswires) -- (Updates with Moderna's ( MRNA ) response and latest stock movement in the last two paragraphs.)

Moderna ( MRNA ) allegedly made false and/or misleading statements and failed to disclose that its mRNA respiratory syncytial virus, or RSV, vaccine was less effective than it had previously led investors to believe, according to a proposed class action filed Friday in a federal district court in Massachusetts.

"As a result of Defendants' wrongful acts and omissions, and the precipitous decline in the market value of the Company's securities, Plaintiff and other Class members have suffered significant losses and damages," the complaint stated.

Moderna ( MRNA ) declined MT Newswires' request for comment on the matter.

Moderna ( MRNA ) shares fell 4.5% in recent trading.

Price: 81.07, Change: -3.86, Percent Change: -4.54