Gainey & McKenna and the Egleston Law Firm Filed the Original Class Action Suit Against China-Biotics, Inc. -- CHBT

NEW YORK, June 4, 2012 (GLOBE NEWSWIRE) -- Gainey & McKenna and the Egleston Law Firm filed the original class action on behalf of purchasers of the common stock of China-Biotics, Inc. ("China-Biotics" or the "Company") CHBT between April 15, 2010 and November 14, 2011, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act") in the United States District Court for the Southern District of New York.

A copy of the original complaint filed by our law firms can be found at www.gme-law.com.

Another law firm has issued press releases but has not filed any action against the defendants.

If you wish to serve as lead plaintiff, you must move the Court no later than July 24, 2012.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's attorneys, Thomas J. McKenna of Gainey & McKenna at (212) 983-1300, or via e-mail at tjmckenna@gaineyandmckenna.com or Gregory M. Egleston of the Egleston Law Firm at (212) 683-3400, or via e-mail at egleston@gme-law.com.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Plaintiff seeks to recover damages on behalf of all purchasers of China-Biotics common stock during the Class Period (the "Class").  The plaintiff is represented by Gainey & McKenna and the Egleston Law Firm (http://www.gme-law.com), whose attorneys have decades of experience in prosecuting securities class actions and investor class actions throughout the United States.