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The ECLIA business purported to consist of ECLIA analyzer and reagent kits, as an IVD system based on ECLIA technology.The reagent kits were purported to detect various thyroid disorders, diabetes, hepatitis, Down syndrome, liver fibrosis, disorders related to reproduction and growth, and various types of tumors.The CMED Audit Committee retained law firm Paul Weiss Rifkind Wharton & Garrison, which in 2009 investigated the allegations and advised the committee as to any appropriate further measures. In January 2012, a class action fraud lawsuit was filed by CMED investors against CMED and its CEO and CFO in the US District Court for the Southern District of New York.In July 2012, original purchasers of the CMED bonds sued the CEO in a civil case in California, alleging he stripped assets from CMED. Department of Justice in Brooklyn, New York, criminally indicted CMED's founder and CEO, as well as CMED's former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than 0 million from investors as part of a seven-year scheme.
In March 2012, the CMED American Depositary Shares (ADSs) were delisted from NASDAQ, and in June 2012 the CMED ordinary shares were deregistered.Read More Bidding through our website ends 15 minutes before the actual auction begins.Therefore, having the high bid on our website does not guarantee you will be the winning bidder.The SPR business, which purported to consist of SPR system and HPV-DNA chips, purported to be a molecular diagnostic system based on SPR technology.The HPV-DNA chips purported to be label-free DNA chips for the diagnosis of HPV infection and genotyping of HPV.