A class action lawsuit has been filed in the United States District Court, District of Maryland, Southern Division, on behalf of a class consisting of all persons or entities who purchased Human Genome Sciences Inc. (Nasdaq: HGSI) 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.
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.
If you are a current shareholder and /or purchased during the class period between July 20, 2009 and November 11, 2010 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.