Saxena White P.A. Reminds Longtop Financial Technologies Limited Investors of Upcoming July 22, 2011 Lead Plaintiff Deadline -- LFT

BOCA RATON, Fla., July 1, 2011 (GLOBE NEWSWIRE) -- Saxena White P.A., which has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who purchased Longtop Financial Technologies Limited ("Longtop" or the "Company") (NYSE:LFT) American Depository Shares ("ADS"), reminds investors that deadline to serve as lead plaintiff is Friday, July 22, 2011. If you wish to serve as a lead plaintiff, please contact Saxena White as soon as possible for more information. The class period is October 25, 2007 through May 17, 2011, inclusive (the "Class Period").

Trading in the Longtop ADS on the New York Stock Exchange was halted on May 17, 2011. Subsequently, the Company announced that it was postponing the announcement of its quarterly and annual financial results that had been scheduled for release on May 23, 2011. The last closing price of Longtop on May 16^th prior to the trading halt was $18.93 per share, and trading has not resumed.

On May 23, 2011, the Company disclosed that its Chief Financial Officer, Derek Palaschuk, had resigned. In addition, investors were shocked to learn that the Company's outside auditor, Deloitte Touche Tohmatsu Ltd. ("Deloitte"), had also resigned after identifying matters that may impact the fairness and reliability of Longtop's financial statements for 2010 and 2011. According to Deloitte, financial records relating to cash and loan balances were falsified, and that certain members of management deliberately interferred in the audit process. These revelations have led to the commencement of an SEC investigation.

You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Longtop Financial Technologies Limited between the period of October 25, 2007 and May 17, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests:

If you purchased Longtop Financial Technologies Limited American Depository Shares during the Class Period, and/or on the Secondary Offering priced at $31.25 per share on November 18, 2009, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than July 22, 2011. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., which has offices in Boca Raton, Boston and Montana, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.