Izard Nobel LLP Announces Class Action Lawsuit Against Mindray Medical International Limited
29 Luglio 2011 - 11:03PM
Marketwired
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the Southern District of
New York on behalf of purchasers of the American depository shares
("ADSs") of Mindray Medical International Limited ("Mindray" or the
"Company") (NYSE: MR) between January 11, 2010 and August 9, 2010,
inclusive (the "Class Period").
The Complaint charges that Mindray and certain of its officers
and directors violated the federal securities laws. Specifically,
defendants failed to disclose the following adverse facts: (i)
Mindray was experiencing declining sales domestically, as a result
of a lack of Chinese government tenders and a slowdown in
non-tender Chinese sales; (ii) the Company's sales of its
diagnostics and ultrasound equipment were not performing according
to internal expectations; (iii) Mindray was finding increased
competition in penetrating the market for larger hospital systems
in China; and (iv) as a result, defendants lacked a reasonable
basis for their positive statements about Mindray.
On August 9, 2010, Mindray announced its financial results for
the second quarter of 2010. The Company reported net revenues of
$179.2 million, net income of $42.3 million and basic and diluted
earnings per share were $0.37 and $0.36, respectively. On this
news, Mindray ADSs fell $5.15, or 16%, to close at $27.35, on
August 10, 2010.
If you are a member of the class, you may, no later than
September 19, 2011, request that the Court appoint you as lead
plaintiff of the class. A lead plaintiff is a class member that
acts on behalf of other class members in directing the litigation.
Although your ability to share in any recovery is not affected by
the decision whether or not to seek appointment as a lead
plaintiff, lead plaintiffs make important decisions which could
affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class
action or for more information about the case, and your rights,
visit: www.izardnobel.com/mindray/, or contact Izard Nobel LLP
toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For
more information about class action cases in general, please visit
our website: www.izardnobel.com.
CONTACT: Nancy A. Kulesa or Wayne Boulton (800)797-5499
www.izardnobel.com Email Contact
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