Brower Piven Encourages Investors Who Have Losses in Excess of $150,000 From Investment in CardioNet, Inc. to Inquire About the
September 11 2009 - 5:00PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Eastern District of Pennsylvania on behalf of
purchasers of the common stock of CardioNet, Inc. ("CardioNet" or
the "Company") (NASDAQ: BEAT) during the period between April 30,
2009 and June 30, 2009, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than October 26, 2009 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff. You may
contact Brower Piven (through hoffman@browerpiven.com or
410/986-0036) to answer any questions you may have in that
regard.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that the Company was
experiencing reductions in its reimbursement rates for its MCOT
services and that these reimbursement rates were under review by
payors, and a reduction in rates could result in the Company's
current independent business model not being economically viable
and that, therefore, the Company's financial outlook for 2009, 2010
and 2011 had no reasonable basis in fact. According to the
complaint, after it became known that the reimbursement rates for
its MCOT services were under review by payors and were likely to be
reduced, the value of CardioNet's stock declined significantly.
If you have suffered a net loss for all transactions in
CardioNet, Inc. common stock during the Class Period, you may
obtain additional information about this lawsuit and your ability
to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410-986-0036, or at Brower Piven, A Professional
Corporation, The World Trade Center-Baltimore, 401 East Pratt
Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower
Piven have combined experience litigating securities and class
action cases of over 40 years. If you choose to retain counsel, you
may retain Brower Piven without financial obligation or cost to
you, or you may retain other counsel of your choice. You need take
no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/986-0036 Email Contact
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Jun 2024 to Jul 2024
HeartBeam (NASDAQ:BEAT)
Historical Stock Chart
From Jul 2023 to Jul 2024