SEATTLE, Aug. 4 /PRNewswire/ -- On July 29, 2009, a class-action lawsuit was filed in the United States District Court for the District of Massachusetts against Genzyme Corporation (Nasdaq: GENZ) alleging the company issued a series of material misrepresentations to the market regarding company products and operations that caused stocks to trade at artificially inflated prices.

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In late July, the company slashed its earnings and revenue forecasts for 2009, including its revenue projections due to manufacturing problems in one of its Mass.-based plants. Since June 2008, Genzyme's stock has fallen more than 35 percent, resulting in a loss of more than $8 billion for investors.

The suit represents stockholders who purchased or held Genzyme shares between June 26, 2008 and July 21, 2009.

If you wish to discuss the action or participate in a lawsuit, please contact HBSS. You can visit our Web site at www.hbsslawsecurities.com/genzyme or e-mail attorneys at genzyme@hbsslaw.com.

The suit filed last week, seeks to recover damages on behalf of investors. If you are an investor, you may move the court no later than Monday, Sept. 28, 2009 to serve as lead plaintiff.

Genzyme Corporation, a biotechnology company, is based in Cambridge, Mass. The company's products focus on rare inherited disorders, kidney disease, orthopedics, cancer and more.

About Hagens Berman Sobol Shapiro

Hagens Berman Sobol Shapiro is a Seattle-based shareholder-rights law firm with offices in Chicago, Cambridge, Los Angeles, Phoenix and San Francisco. Since 1993, HBSS has recovered hundreds of millions of dollars for institutional and individual investors defrauded by unscrupulous management of publicly held corporations though tenacious legal representation.

SOURCE Hagens Berman Sobol Shapiro