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SEC Halts Trading in China Medical’s Stock for Two Weeks

publication date: Jul 3, 2012
Trading in the shares of China Medical Technologies, a diagnostics company, has been halted for two weeks while the SEC determines the truth of the company’s financial statements. Although the company has “gone black,” refusing to communicate with the public or the SEC, its stock price has climbed, soaring through $10 per share, up from $2 before the company’s troubles became known. The SEC wants to see if the company actually has $206.5 million in cash – the ostensible driver behind the stock price – or whether its nearly year-old financial report is fraudulent. More details....

Stock Symbol: (OTCBB: CMEDY)

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