| Pomerantz Law Firm Has Filed a Class Action Against Human Genome Sciences |
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| Written by Globe Newswire | |
| Thursday, 24 November 2011 | |
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Pomerantz Haudek Grossman & Gross LLP has filed a class action lawsuit against Human Genome Sciences Inc. ("HGS" or the "Company"), (Nasdaq:HGSI) and certain of its officers.
The class action filed in the United States District Court, District of Maryland, Southern Division, is on behalf of a class consisting of all persons or entities who purchased HGS securities during the period from July 20, 2009 and November 11, 2010 (the "Class Period"), including all persons who acquired the common stock of HGS pursuant and/or traceable to the false and misleading registration statements and prospectuses issued in connection with the Company's July 28, 2009 public offering of 26.7 million shares of common stock at $14 and its December 2, 2009 public offering of 17.8 million shares of common stock at $26.75.
This class action is brought under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder by the SEC, 17 C.F.R. § 240.10b-5. If you are a shareholder who purchased HGS securities during the Class Period, you have until January 10, 2012 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. The Complaint alleges that, during the Class Period, defendants made materially false and misleading statements concerning a potential new drug, Benlysta, also called belimumab, for the treatment of Systemic Lupus Erythematosus, which is a chronic, life-threatening autoimmune disease. Specifically, defendants failed to disclose that in clinical drug trials they conducted, Benlysta was associated with suicide. On November 12, 2010, the U.S. Food and Drug Administration posted its analysis of Benlysta and the drug's association with suicide in clinical drug trials. As a result of this disclosure, HGS shares dropped $2.88 or nearly 11%, to close at $23.60 per share on November 12, 2010. |
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