Genzyme Investors Urge 1st Circ. To Revive Fraud Action

Law360, New York (May 14, 2013, 3:38 PM EDT) -- A group of Genzyme Corp. investors on Monday urged the First Circuit to revive a putative consolidated class action accusing the company of lying about contamination at a key production plant, arguing a federal judge had wrongly ignored discounted evidence backing their securities fraud claims.

According to the appellants — lead plaintiffs Deka International SA Luxembourg, the city of Edinburgh as administrator of the Lothian Pension Fund and the Government of Guam Retirement Fund — U.S. District Judge George A. O'Toole Jr. had mistakenly ruled that...
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