Human Genome Denies Hiding Suicide Risks In Lupus Drug Case

Law360, New York (May 25, 2012, 5:46 PM EDT) -- Biopharmaceutical firm Human Genome Sciences Inc. on Thursday asked a federal judge to scuttle proposed securities class actions accusing it of concealing suicide risks associated with lupus drug Benlysta, saying that investors cherry-picked the public record in a desperate attempt to build a case.

Shareholders say they purchased $800 million in Human Genome stock at artificially inflated prices before learning in 2010 that three patients killed themselves while taking Benlysta during clinical trials, a revelation that allegedly caused shares to nosedive.

The motion to dismiss, which...
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