Robbins Umeda LLP Announces an Investigation of Human Genome Sciences, Inc.

Shareholder rights firm Robbins Umeda LLP is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Human Genome Sciences, Inc. (NASDAQ: HGSI). Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Gregory E. Del Gaizo at (800) 350-6003, gdelgaizo@robbinsumeda.com, or via the shareholder information form on the firm's website.

Robbins Umeda LLP's investigation focuses on whether officials at Human Genome Sciences breached their fiduciary duties to shareholders, maintained woefully inadequate controls, and wasted corporate assets to the detriment of the company and investors. In particular, the firm is investigating allegations that members of the board of directors allowed Human Genome Sciences to issue materially false and misleading statements to investors concerning the safety of BENLYSTA ®, a potential new drug the company was developing for the treatment of Lupus. Specifically, it is alleged that members of the board failed to disclose to investors that during clinical trials, BENLYSTA was associated with a higher risk of suicide among patients.

On November 12, 2010, the U.S. Food and Drug Administration ("FDA") released its staff analysis report for BENLYSTA, outlining its safety concerns with the drug. With this disclosure, investors were first made aware of an association between BENLYSTA and the increased risk of suicide and death among patients. After the FDA report was published, shares of Human Genome Sciences dropped over 10%, from a closing price of $26.48 on November 11, 2010, to a closing price of $23.60 per share the next day. Moreover, since these facts have emerged, Human Genome Sciences has increasingly become the focus of costly public and legal scrutiny, while shares of the company's common stock have continued to decline in value.

Robbins Umeda LLP attorneys highlight that Human Genome Sciences shareholders have the option to file a derivative action to those hold officers and directors accountable for damaging the company. Remedies commonly sought in derivative actions include corporate governance reforms designed to prevent future misconduct, removal of officers or directors whose misconduct injured the corporation, and monetary payments in the form of damages and disgorgement of ill-gotten gains.

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/human-genome-sciences-inc/

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