NEW YORK, Jan. 21, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of purchasers of the common stock of Human Genome Sciences, Inc. ("HGSI" or the "Company") (Nasdaq:HGSI) during the period between December 7, 2007 and January 22, 2008 (the "Class Period"), seeking to recover investors' damages from violations of federal securities laws by six-healthcare related hedge funds managed by FrontPoint Partners, LLC ("FrontPoint").
To join the HGSI class action, visit the Rosen Law Firm's website at , or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges that during the Class Period, six healthcare related hedge funds managed by FrontPoint sold 6,164,500 shares of HGSI common stock while their portfolio manager, Joseph F. "Ship" Skowron, was in possession of material negative non-public and negative information about a HGSI clinical trial. The Complaint asserts that Skowron came into possession to such inside information from Yves Benhamou, M.D., a member of a committee overseeing the subject clinical trial. The Complaint asserts that FrontPoint and the six healthcare related hedge funds, Skowron, Benhamou and others, violated the federal securities laws because the six hedge funds were able to avoid $30 million in losses by unloading their HGSI stock prior to HGSI's negative announcement concerning the clinical trial.
If you wish to join the litigation or seek to move for appointment as lead plaintiff, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm P.A. 275 Madison Avenue, 34th Floor New York, New York 10016 Tel: (212) 686-1060 Weekends Tel: (917) 797-4425 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com www.rosenlegal.com
