Biotech, Life Sciences, lawsuits

Genzyme Hit with Shareholder Suit, Herald Reports

Ryan McBride 7/29/09

The Boston Herald reports that an investor in Genzyme (NASDAQ:GENZ) has filed a securities lawsuit against the Cambridge, MA-based biotech powerhouse. The daily tabloid writes that the suit, filed by Florida resident Jon Rahn, claims that Genzyme took “too long” to disclose issues that federal regulators found last fall at its drug-production facilities in Boston and Belgium.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.