HOUSTON, August 26, 2003 (PRIMEZONE) -- Emerson Poynter LLP, a securities class action trial law firm, announced today that a class action lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of all purchasers of the common stock of Impath, Inc. (Nasdaq:IMPHE) (``Impath'' or the ``Company'') from February 21, 2001 through July 29, 2003, inclusive (the ``Class Period''). A copy of the complaint can be obtained from the Court or by making a toll-free call to the Firm.
If you purchased Impath securities within a 401(k) retirement plan, or other retirement plan offered by Impath to its employees or former employees, you may also contact Emerson Poynter for advice regarding your legal rights. Emerson Poynter has substantial experience representing investors in securities fraud class action and in representing employees and former employees in pension plan litigation. The firm has offices in Houston, Texas and Little Rock, Arkansas, but represents clients throughout the Nation. If you have any questions about how you may be able to recover for your losses, you are encouraged to call toll free or e-mail the firm. Additionally, please contact Emerson Poynter if you purchased Impath securities within the Class Period and would like to consider serving as one of the Lead Plaintiffs in the securities fraud class action lawsuit.
On July 30, 2003, Impath announced that it had begun an internal investigation into accounting irregularities related to its accounts receivables and that a restatement of the Company's financials was likely. This past Friday, on August 22nd, the Company revealed that the Securities Exchange Commission was now investigating these accounting problems and that the Company had hired legal and financial advisors which may lead to a Chapter 11 bankruptcy filing. It was also revealed that the Company had received a delisting notice from NASDAQ.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca