Shares of China Medical (CMED -19.5%) plunge after Glaucus Research alleges the medical device...

|About: China Medical Technologies,... (CMEDQ)|By:, SA News Editor

Shares of China Medical (CMED -19.5%) plunge after Glaucus Research alleges the medical device maker's CEO "orchestrated an acquisition to embezzle roughly $20-$23 million from the public company." Glaucus says CMED overpaid for the acquisition from an entity it believes is secretly related to the company's CEO. CMED denies the allegations.