Gilman Law LLP, a leading national law firm representing investors in securities class action lawsuits, is currently investigating securities fraud allegations against Human Genome Sciences, Inc. (HGS) and certain of its officers and directors. Recently, an investor class action lawsuit was filed in the United States District Court for the District of Maryland on behalf of investors who purchased HGS stock (NASDAQ: HGSI) between July 20, 2009 and November 11, 2010 (“Class Period”). The proposed class includes all persons who acquired HGS common stock 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.
For over 30 years, Gilman Law has represented investors in all major aspects of securities fraud litigation, including stock manipulation, securities fraud, and shareholder rights violations. The firm is currently offering free legal evaluations to qualifying HGS stockholders. However, if you wish to take part in this lawsuit, you must contact Gilman Law no later than January 9, 2012 in order to preserve your legal rights.
HGS Class Action Lawsuit Allegations
HGS is a commercially focused biopharmaceutical company based in Rockville, MD, that has developed and conducted clinical trials of the experimental drug, Benlysta, also called belimumab. Benlysta is intended for the treatment of Systemic Lupus Erythematosus (“SLE”) which is a chronic, life-threatening autoimmune disease.
The HGS shareholder class action lawsuit alleges the Company made false and misleading statements concerning the results of Benylsta clinical drug trials, and a high risk of suicide associated with the medication. Investors only learned of these findings on November 12, 2010, when the U.S. Food and Drug Administration (FDA) posted their analysis on the Internet. After the FDA analysis was released, the price of HGS’s common stock dropped over 10% from a closing price of $26.48 on November 11, 2010 to close at $23.50 on November 12, 2010.
Legal Help for HGS Shareholders
Gilman Law LLP has extensive experience representing both individual and institutional investors in securities class action suits, and has recovered over a billion dollars for its clients. We are ready to assist investors who have sustained losses as a result of HGS’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or CALL TOLL FREE (888) 252-0048.
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