LOS ANGELES -- (Business Wire)

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.

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Contacts:

Glancy Binkow & Goldberg LLP
Michael Goldberg
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

Source: Glancy Binkow & Goldberg LLP