Moderna, Inc. Securities Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against Moderna, Inc. (MRNA).

If you purchased or held Moderna securities and suffered losses, you may be eligible to join this securities investigation and seek compensation.

About Moderna

Moderna, Inc. is a biotechnology company headquartered in Massachusetts and incorporated in Delaware. The company develops messenger RNA (mRNA) medicines across four main areas: respiratory vaccines (including Spikevax for COVID-19), latent and other viruses, oncology, and rare disease therapeutics.

Product safety, especially regarding pediatric use of its COVID-19 vaccine, is considered a mission-critical risk for Moderna.

What's being investigated

The investigation centers on allegations that Moderna may have failed to adequately disclose or monitor potential safety risks associated with its COVID-19 vaccine in children. There is concern that Moderna’s public assurances of "no serious safety concerns" may not have fully reflected internal or regulatory information available to the company.

On September 12, 2025, Moderna’s stock price fell 6.9% after media outlets reported that federal health officials intended to present data to a CDC panel suggesting 25 child deaths could be linked to COVID-19 vaccines.

This news reportedly contradicted Moderna’s prior public statements and has prompted questions about the accuracy of the company’s disclosures and the adequacy of its board and officer oversight.

Key timeline

• Oct. 25, 2021: Start of relevant period for the investigation. This marks the beginning of the period during which Moderna’s pediatric vaccine development and authorizations were ongoing.
• June 17–18, 2022: FDA extends emergency use authorization and CDC’s ACIP reviews Moderna’s vaccine for young children.
• July 10, 2025: FDA grants full approval of Spikevax for children aged 6 months to 11 years at increased risk.
• Sept. 12, 2025: Media reports that federal officials plan to present data on 25 child deaths allegedly linked to COVID-19 vaccines; Moderna stock falls nearly 7%.

Why investors may be concerned

If regulators determine that multiple child deaths were causally linked to COVID-19 vaccination in minors, and that Moderna knew or should have known about credible safety signals when it spoke, then Moderna may have made misleading statements or omitted material facts about pediatric safety.

Regulators plan to discuss VAERS reports at the ACIP meeting on September 18, 2025, but VAERS entries alone do not prove causation. To date there has been no official finding that Moderna failed to disclose or monitor pediatric safety risks.

Possible legal pathways

Several legal avenues may be available if the allegations are substantiated:

• Stockholder derivative actions: Investors may seek to bring claims on behalf of Moderna against directors or officers for alleged breaches of fiduciary duty, particularly relating to oversight and disclosure of pediatric vaccine safety.
• Securities class actions: If public statements are found to be materially misleading, class actions under federal securities laws could be considered.
• Regulatory investigations: Government agencies may review Moderna’s disclosures and internal controls if sufficient evidence is presented.

Any such actions would be subject to procedural requirements and defenses under Delaware law, including director and officer exculpation provisions and demand futility standards.

What investors can watch next

At this time, it is not known when or if any court filings, regulatory disclosures, or governance changes will occur in connection with these allegations. Investors may monitor Moderna’s upcoming earnings releases, future SEC filings, and any company statements regarding board or committee oversight of vaccine safety.

Your Rights and Next Steps

This is an active investigation into potential breaches of fiduciary duty and securities law at Moderna. Investors who owned Moderna shares on or after October 25, 2021, and sustained losses may have the right to pursue the following.

Potential next steps:

• Request corporate books and records under Delaware law (Section 220) to investigate possible wrongdoing
• Participate in a potential stockholder derivative action, which seeks to recover damages or require governance reforms for the benefit of the company
• Receive updates about the status of the investigation and any legal proceedings

Shareholders in derivative actions act on behalf of the company, not for individual recovery. Any monetary relief or governance changes would benefit Moderna as a whole. To preserve your rights, it is important to act promptly, as certain deadlines may apply.

You May Be Entitled to Compensation

Securities investigations are time-sensitive. If you purchased or held Moderna securities during the relevant period and experienced losses, you may be eligible to join this investigation.

Lawyers are ready to help you understand your options and pursue potential compensation. To get started, complete the form below to protect your rights as an investor.