Genzyme Corporation GENZ Securities Stock Fraud

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Company:	Genzyme Corporation
Ticker Symbol:	GENZ
Class Period:	Jun-26-08 to Jul-21-09
Date Filed:	Jul-29-09
Lead Plaintiff Deadline:	Sep-27-09
Court:	District of Massachusetts
Allegations:

A securities fraud class action lawsuit has been filed on behalf of all investors who purchased or otherwise acquired Genzyme Corporation ("Genzyme") (Nasdaq:GENZ) common stock between June 26, 2008 and July 21, 2009 (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Massachusetts, and charges defendants Genzyme and Henri A. Termeer (President and CEO) with issuing a series of materially false and misleading statements in violation of Section 10(b) and 20(a) of the Securities Exchange Act and SEC Rule 10b-5.

The complaint alleges that defendants concealed deficiencies at two of its manufacturing facilities, which caused a shortage in one of its top-selling products (a drug called Myozyme) and delayed approval of a new formulation of that product (a drug known as Lumizyme). The manufacturing problems also forced Genzyme to halt production of two other top-selling products (drugs called Cerezyme and Fabrazyme) due to contamination at one of the manufacturing facilities.

On July 22, 2009, Genzyme slashed its earnings and revenue forecasts for 2009, including its revenue projections for Myozyme, Cerezyme and Fabrazyme, due to the impact of the facility shutdown. During the class period, Genzyme's stock has fallen over 35%, resulting in a loss of over $8 billion to investors.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Genzyme Corporation GENZ Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Genzyme Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

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