Faizan_Khan - 5:48 am on Apr 24, 2013 (gmt 0)
The Answer is "YES"(with respect to my experience). I recently have had the same issue with my site. All the pages on site's blog were having same meta description which, i think, Google, minded. As a result, the SERPS were all over the place. I lost my top positions. But, sooner i fixed the description issue and Google placed my kws on top. I am not an SEO expert but i assume it was Meta Description hurting the rankings in SERPs.