SOURCE: Izard Nobel LLP

July 29, 2011 17:03 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Mindray Medical International Limited

WEST HARTFORD, CT--(Marketwire - Jul 29, 2011) - 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.

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