The Rosen Law Firm Announces Class Action Against China Medicine Corporation

The Rosen Law Firm, P.A. today announced the filing of a class action lawsuit on behalf of investors who purchased the common stock of China Medicine Corporation (“China Medicine” or the “Company”) (OTC: CHME) during the period from November 30, 2006 and March 23, 2011, seeking to recover investors’ damages from violations of federal securities laws.

To join the China Medicine class action, visit the Rosen Law Firm’s website at http://www.rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email or pkim@rosenlegal.com for information on the class action, 如果您講中文，請致電張律師212-686-1060，或電郵 szhang@rosenlegal.com, 獲取該集體訴訟案�的具體信息.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The Complaint asserts violations of the federal securities laws against China Medicine and its officers and directors for issuing false and misleading information to investors about the financial and business condition of the Company. On March 23, 2011 China Medicine filed a Form 8-K with the Securities and Exchange Commission announcing that the Company’s board of directors had concluded that China Medicine’s financial statements for its 2008 and 2009 fiscal years and quarterly reports during fiscal years 2008, 2009 and 2010 were unreliable. On the next trading day, as a result of the foregoing news, the price of China Medicine stock lost more than half of its value.

If you wish to serve as lead plaintiff, you must move the Court no later than September 16, 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.

China Medicine (CE) (USOTC:CHME)
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