Pomerantz Haudek Grossman & Gross LLP has filed a federal securities class action (11 Civ 9297) in United States District Court, Southern District of New York, on behalf of all persons who purchased American Depository Shares ("ADS") of China Medical Technologies, Inc., between November 26, 2007 and December 12, 2011, inclusive. This class action is brought under the Securities Exchange Act of 1934 and Rule 10b-5 against the Company and certain of its top officials.

If you are a shareholder who purchased China Medical securities during the Class Period, you have until February 17, 2011 to ask the Court to appoint you as lead plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and or failed to disclose that: (1) the Company's acquisition of Beijing Bio-Ekon Biotechnology Co. Ltd. ("BBE") was from a third party seller connected to China Medical's Chairman, Wu Xiaodong; (2) the Company overpaid approximately $20 million to acquire BBE; (3) the Company's acquisition of BBE involved the use of fraudulent shell companies; (4) BBE was suffering operating losses prior to the acquisition; (5) the Company overstated accounts receivables in order to inflate sales and net income; (6) the Company's reported profit margins were inflated; and (7) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

The Pomerantz Firm, with offices in New York, Chicago and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

The Rosen Law Firm, P.A. reminds investors of the important December 19, 2011 lead plaintiff deadline in the class action lawsuit on behalf of investors who purchased the common stock of AgFeed Industries, Inc.

If you purchased AgFeed securities during the period between March 16, 2009 and September 29, 2011, visit the Rosen Law Firm's website at http://www.rosenlegal.com to join the case, or call Phillip Kim, Esq., toll-free, at 866-767-3653 or pkim@rosenlegal.com for information. The action filed by the firm is pending in the U.S. District Court for the District of Colorado.

If you wish to serve as lead plaintiff, you must move the Court no later than December 19, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

The Securities and Exchange Commission Wednesday backed a proposal to bar banks from trading for their own profit instead of their clients.

The SEC voted 4-0 to send the ban on so-called proprietary trading out for public comment. The rule was required under the financial regulatory overhaul.

Critics on the left have dismissed the effort as weak and marred by loopholes. Banks argued it would hurt the economy.

The SEC is the third federal regulator to support the proposal, called the Volcker Rule after former Federal Reserve Chairman Paul Volcker. On Tuesday, the Federal Deposit Insurance Corp. and the Federal Reserve both backed it.

For years, banks bet on risky investments with their own money. But when those bets go bad and banks fail, taxpayers may have to bail them out. That happened during the 2008 financial crisis.

Under the proposal, banks must hold investments for more than 60 days and bank managers must make sure employees comply with restrictions.

The public has until Jan. 13 to comment on the rule, which is expected to take effect by July after a final vote by all the regulators. Banks would have until July 2014 to comply.

Critics on the left contend that the rule as written is too vague and its effect on risk-taking will be limited. Banks have a history of working around rules and exploiting loopholes. In this case, banks can make most trades simply by arguing that the trade offsets another risk that the bank bet on.

Wall Street banks say the ban on proprietary trading could prevent them from buying and selling investments that their customers might want.

Stocks are gaining steam ahead of speeches on the economy by Federal Reserve Chairman Ben Bernanke and President Barack Obama.

Bernanke will detail his outlook for the economy Thursday afternoon. Obama will lay out his jobs plan at a joint session of Congress tonight.

Stocks drifted between gains and losses in early trading after mixed signs on the economy. New applications for unemployment benefits rose last week. At the same time, U.S. exports rose to an all-time high. That could be a sign the economy is growing.

At 11:45 a.m., the Dow Jones industrial average was up 37 points, or 0.3 percent, to 11,453. The S&P 500 rose 3, or 0.3 percent, to 1,201. The Nasdaq gained 13, or 0.5 percent, to 2,562.

Lawyers representing plaintiffs in a proposed class-action lawsuit against Sino-Forest Corp. have filed a statement of claim against the Chinese timber operator, seeking more than $7.37 billion in damages.

Law firms Koskie Minsky LLP and Siskinds LLP filed the claim in Ontario superior court, alleging that executives conspired to inflate share prices, and accusing the troubled forestry company of making misrepresentations about its operations.

The Ontario Securities Commission halted trading of shares in the forestry company on the Toronto Stock Exchange last week, after accusing it of fraud.

The law suit seeks money for those who bought Sino-Forest shares on the stock market and through the company's public offering.

"The securities sold by Sino via the offerings were sold at artificially inflated prices as a result of the representation and the other misrepresentations," the statement of claim said.

The allegations against Sino-Forest have not been proven in court. The company did not return a call requesting comment Wednesday.

The claim names several Sino-Forest executives, including former CEO Allen Chan; auditor Ernst & Young; and financial institutions that had acted as underwriters for the company's 2009 prospectus offering. They include TD Securities, Dundee Securities, RBC Securities, Scotia Capital, and CIBC World Markets.

"The underwriters earned fees from the class, whether directly or indirectly, for work that they never performed or that they performed with gross negligence, in connection with the offerings, or some of them," according to the statement of claim.

"Sino, E&Y and the individual defendants further breached their duty of care as they failed to maintain appropriate internal controls to ensure that Sino’s disclosure documents adequately and fairly presented the business and affairs of Sino on a timely basis," it said.

The debt deal rally lasted all of 30 minutes. After gaining 139 points minutes after the market opened Monday, the Dow Jones industrial average sharply reversed course, shedding all of those gains after a key manufacturing index tumbled in July.

The Dow was down than 50 points after the Institute of Supply Management said its manufacturing index fell to 50.9. That was barely above the 50 point figure that indicates growth. Economists had been expecting a much higher reading of 55.

The manufacturing report comes just one trading day after the government said that the economy grew at an annual rate of just 1.3 percent from April through June. This year, the economy has grown at its slowest pace since the recession ended in June 2009. Sharp reductions in short-term government spending could further weaken the economy, analysts say.

The Dow Jones industrial average was down 51 points, or 0.4 percent, to 12,092 in midmorning trading. The broader Standard and Poor's 500 index lost 7, or 0.5 percent, to 1,285. The Nasdaq composite lost 10, or 0.4 percent, to 2,746.

Bond yields fell to the lowest level of the year as investors moved into safer assets. The yield on the 10-year Treasury note fell to 2.73 percent from 2.80 percent late Friday.

Stocks rose early Monday after President Barack Obama and Congressional leaders announced Sunday that they had agreed on a deal to raise the nation's borrowing limit ahead of Tuesday's deadline. Investors have been worried that the U.S. might default if a deal wasn't reached.

A New Jersey lawyer was sentenced Thursday to 2 1/2 years in prison for his role in a hedge fund insider trading scheme as the judge said it was important to send a message of deterrence to Wall Street and to lawyers nationwide.

Arthur Cutillo teamed with another lawyer at a prominent Manhattan law firm to provide tips about mergers and acquisitions of public companies to friends trading stocks professionally.

Cutillo must report to prison in September. U.S. District Judge Richard Sullivan also ordered the 34-year-old Newark, N.J., resident to forfeit $378,608, which represents a portion of the roughly $7 million that authorities estimate was illegally made by traders as a result of inside information from a variety of sources in the case.

Cutillo, who apologized before he was sentenced, was among those arrested in 2009 when U.S. Attorney Preet Bharara unveiled what he said was the biggest hedge fund insider trading case in history.

After the sentence was announced, Bharara said: "With today's sentence, he now joins a growing group of privileged professionals who are paying a high price for insider trading."

Cutillo admitted providing tips to a former college friend in 2007 and 2008 about secrets he learned at the international firm Ropes & Gray. In return, he received $32,500 in cash, part of $100,000 paid to Cutillo and another Ropes & Gray lawyer in return for stock tips.

The prosecution also resulted in the conviction of Raj Rajaratnam, a one-time billionaire who the government said made tens of millions of dollars through inside information provided by longtime friends carrying secrets about public companies.

Sullivan cited Cutillo's challenging family circumstances, including two children with special needs, as reasons that he did not boost the sentence beyond the minimum recommended in a plea deal with prosecutors.