On or around 07/20/2012 (Other)
Filing Date: January 04, 2011
According to the complaint filed January 04, 2011, over a six-week period in December 2007 and January 2008, six healthcare related hedge funds managed by Defendant FrontPoint Partners LLC ("FrontPoint") sold more than six million shares of Human Genome Sciences, Inc. ("HGSI") common stock while their portfolio manager possessed material negative non-public information concerning the HGSI's clinical trial for the drug Albumin Interferon Alfa 2-a.
On March 2, 2011, the plaintiffs filed a First Amended Class Action Complaint, amending the named defendants and securities violations. On March 22, 2011, a motion for appointment as lead plaintiff and for approval of selection of lead counsel was filed. The defendants responded to the First Amended Complaint by filing a motion to dismiss on March 28, 2011.
The plaintiffs filed a Second Amended Complaint. The defendants responded by filing motions to dismiss on October and November 2011.
On April 25, 2012, the Court issued a Memorandum of Decision granting the defendants' motions to dismiss. The clerk was instructed to close this case.
On May 24, 2012, Plaintiffs filed a Notice of Appeal. On July 20, 2012 the Court of Appeals for the Second Circuit issued an Order granting the parties' stipulation to withdraw the appeal.
Company & Securities Information
Defendant: Human Genome Sciences, Inc.
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: HGSI
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Albert Brodzinsky, et al. v. Frontpoint Partners LLC, et al.