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Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Human Genome Sciences, Inc. to Inquire About the Lead Plaintiff Position in Securities Fr...

Fri, 01/14/2011 - 10:45am
The Associated Press

Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut 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, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. No lead plaintiff deadline has been set. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants, consisting of certain hedge funds, investment advisors and certain individuals, selling or participating in the sale of HGSI shares during the Class Period while in possession of non-public material negative information concerning HGSI's clinical trial for Albuferon. According to the complaint, after certain of the defendants sold HGSI shares and after, on January 23, 2008, the Company announced that dosages of Albuferon to all patients would be reduced due to safety issues detected during the clinical trial for Albuferon, the value of HGSI stock declined significantly.

If you have suffered a net loss for all transactions in Human Genome Sciences, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com (http://www.browerpiven.com/) , by email at hoffman@browerpiven.com (mailto:hoffman@browerpiven.com) , by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 50 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

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