ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

CMED China Medical Technologies ADS, Each Representing 10 Ordinary Shares (MM)

1.82
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
China Medical Technologies ADS, Each Representing 10 Ordinary Shares (MM) NASDAQ:CMED NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.82 0 01:00:00

Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against China Medical Technologies...

04/01/2012 2:30am

Business Wire


China Medical (NASDAQ:CMED)
Historical Stock Chart


From Jun 2019 to Jun 2024

Click Here for more China Medical Charts.

Glancy Binkow & Goldberg LLP announces that all purchasers of the American Depositary Shares (“ADSs”) of China Medical Technologies, Inc. (“China Medical” or the “Company”) (NASDAQ:CMED) between November 26, 2007 and December 12, 2011, inclusive (the “Class Period”) have until February 17, 2012 to file a motion with the Court to be appointed as Lead Plaintiff. The securities fraud class action lawsuit was filed in the United States District Court for the Southern District of New York.

China Medical develops, manufactures and markets immunodiagnostic and molecular diagnostic products. The Complaint alleges that the Company and certain of its executive officers misrepresented or failed to disclose material adverse facts about the Company's business, operations and prospects, including that: (1) the Company acquired Beijing Bio-Ekon Biotechnology Co. Ltd. (“BBE”) from a third-party seller connected to China Medical's chairman, Wu Xiaodong; (2) the Company overpaid by approximately $20 million to acquire BBE; (3) the BBE acquisition involved the use of fraudulent shell companies; (4) the Company overstated accounts receivable in order to inflate sales and net income; (5) the Company’s reported profit margins were inflated; and (6) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.

Any person or group who suffered a loss as a result of purchasing China Medical ADSs between November 26, 2007 and December 12, 2011, may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than February 17, 2012. To be a member of the class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

1 Year China Medical Chart

1 Year China Medical Chart

1 Month China Medical Chart

1 Month China Medical Chart

Your Recent History

Delayed Upgrade Clock