Genzyme Corporation (GENZ) Target of Investigation for Potential Securities Law Violations, Hagens Berman Announces

SEATTLE--(Business Wire)--
Genzyme Corporation (NASDAQ:GENZ), a Cambridge, Massachusetts-based
biotechnology company is the target of an investigation by Seattle-based
shareholder-rights law firm Hagens Berman Sobol Shapiro (HBSS), following
reports that Genzyme may have delayed news concerning manufacturing problems.

According to HBSS attorney Reed Kathrein, Genzyme shareholders may have legal
recourse against the biotech giant if the company is found to have withheld
material information that caused Genzyme stock prices to plummet.

Genzyme`s share price has fallen more than 35 percent from 83.25 per share to
below $53 per share, costing investors more than $8 billion, published reports
state.

"Shareholders have the right to know the circumstances surrounding Genzyme`s
rapid share-price collapse, and we believe there may be more to the story," said
Kathrein. "Every investor should be afforded access to accurate, timely
information, but the reality is that isn`t always the case."

According to media reports, Genzyme did not divulge operational problems the
Cambridge-based company was having in two of its plants, creating a shortage of
its drug Myozyme and delaying approval of other products in the Genzyme
pipeline.

According to Kathrein, the FDA raised concerns about one of Genzyme`s plants in
late 2008, but the company failed to disclose the problems until March of 2009,
after Genzyme received a second notification from the FDA.

"We have been representing the rights of institutional and individual
shareholders for many years and we are always surprised at the hubris companies
display by withholding material information," Kathrein noted. "If a publicly
held company like Genzyme has significant manufacturing setbacks, they have an
obligation to inform shareholders."

HBSS is interested in talking with Genzyme investors. If you are a Genzyme
shareholder and are interested in learning more about your rights, visit
www.hbsslaw.com/genzyme or e-mail info@hbsslaw.com or call (510) 725-3033.

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.

Hagens Berman Sobol Shapiro
Reed Kathrein, 510-725-3033
or
Peter Borkin, 510-725-3033
peterb@hbsslaw.com

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