Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against China Medical Technologies, Inc.

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that all persons or entities who purchased 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 move the Court to serve as Lead Plaintiff in the securities fraud class action lawsuit 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.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased China Medical ADSs between November 26, 2007 and December 12, 2011, you have certain rights, and have until February 17, 2012, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.