Genzyme Corporation is a biotechnology company with a broad product and service portfolio focused on rare genetic disease orders, renal disease, orthopedics, cancer, transplant and immune disease, and diagnostic and predictive testing.

The Complaint charges that Defendants violated federal securities laws. Specifically, 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 fell over 35%, resulting in a loss of over $8 billion to investors.

On November 13, 2009, an order was entered into the docket by the court appointing lead Plaintiff, lead Counsel, and consolidating the cases.

On February 19, 2010, an order was entered by the Court consolidating more cases to the docket.

On March 01, 2010, a amended Complaint was filed by the Plaintiffs against the Defendant in this action.

On March 30, 2012, an order was entered by the Court granting Defendants' motions to dismiss and directing the clerk to enter a judgment dismissing the consolidated cases.

On January 14, 2013, the lead Plaintiffs filed a Notice of Appeal.