01:44 PM EDT, 08/12/2024 (MT Newswires) -- Health care stocks were declining Monday afternoon, with the NYSE Health Care Index shedding 0.4% and the Health Care Select Sector SPDR Fund (XLV) down 0.3%.

The iShares Biotechnology ETF (IBB) eased 0.2%.

In corporate news, 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. Moderna ( MRNA ) shares were falling 3.8%.