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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Miraglia v. Human Genome Sciences, Inc. et al


Case Number

8:11-cv-03231

Court

Maryland

Nature of Suit

Securities/Commodities

Judge

Roger W Titus

Date Filed

November 9, 2011

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.