After trading nearly 1% higher earlier in the day, the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) has been unable to hold on to its gains and is now trading just 0.2% higher to 5,158 points.

Four shares that have suffered badly today include:

Medibank Private Ltd (ASX: MPL)

Medibank is one of the big news stories today after reports emerged that the Australian Competition and Consumer Commission (ACCC) will take the private health insurer to Federal Court for misleading consumers. The ACCC will allege Medibank failed to disclose changes to limits for in-hospital pathology and radiology benefits that would have caused customers to incur significant out-of-pocket expenses. Management have refuted the claims, but this hasn’t been enough to save the shares from falling more than 5.5% today.

Despite today’s fall, Medibank has been one of the best-performing large-cap shares over the past 12 months with a gain of more than 38%.

Metcash Limited (ASX: MTS)

Shares of Metcash have finally hit the wall today, falling more than 5% to $2.12. The company has been one of the most shorted stocks on the ASX over the past few years but there has been a noticeable reduction in short positions in the lead up to the company’s full year results that are due out next Monday. This has seen the shares gain around 34% since the start of May and it looks as though some investors have decided it’s time to take profits.

Shares of Metcash have climbed around 90% over the past 12 months.

CYBG PLC CDI 1:1 (ASX: CYB)

Clydesdale Bank shares have fallen nearly 3% today on continued concerns regarding a potential ‘Brexit’. The bank is exposed directly to the UK economy and, as witnessed earlier in the week, any financial businesses exposed to this region have seen their share prices hammered. Investors are clearly concerned about the uncertainty such an event would cause to the finance sector and, as a result, the bank’s shares have now lost more than 10.7% since hitting a 52-week high of $5.86 in late May. Investors should expect shares like Clydesdale to remain volatile until the results are known following the June 23 vote.

Shares of the bank have gained more than 31% over the past 12 months.

Mesoblast limited (ASX: MSB)

Mesoblast shares have fallen 8.8% today as investors continue to grapple with the longer term implications of its now failed CHF partnership with Teva. Some analysts believe Mesoblast will require a further $100 million in funding for medical trials before its key cardiac therapy can become commercially viable. This leaves shareholders in a tricky situation with the necessary funding details yet to be completely confirmed.

Shares of Mesoblast have fallen more than 71% over the past 12 months.

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Motley Fool contributor Christopher Georges has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.