Genzyme Shareholder Class Dismissed For Lack Of Scienter By Mass. Federal Judge

Genzyme Shareholder Class Dismissed For Lack Of Scienter By Mass. Federal Judge

BOSTON - A Massachusetts federal judge on March 30 dismissed a purported class action by shareholders of Genzyme Corp., finding that the plaintiffs failed to show scienter that the company and its executives failed to disclose problems at manufacturing plants and with one of its biologic drugs and inflated the company stock price (In Re: Genzyme Corporation, No. 09-11267; John Rahn, et al. v. Genzyme Corporation, et al.; Vivian Oh, et al. v. Genzyme Corp., et al., No. 1:09-cv-11299, D. Mass., Boston Div.; 2012 U.S. Dist. LEXIS 44336).

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