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| Protecting the Rights of Shareholders and Consumers |
CardioNet, Inc. Securities Litigation
Levi & Korsinsky announces that a class action lawsuit has been filed 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")
(NasdaqGM: BEAT) during the period between April 30, 2009 and June 30, 2009, inclusive (the "Class Period").
The complaint alleges that CardioNet and certain of its officers and directors violated the Securities Exchange Act of 1934 by
failing to disclose during the Class Period that the Company was experiencing reductions in its reimbursement rates for its
MCOT services, that these reimbursement rates were under review by payors, that a reduction in rates could result in the
Company's current independent business model not being economically viable and that, as a result, the Company's
financial outlook for 2009, 2010 and 2011 had no reasonable basis in fact. 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 purchased CardioNet common stock during the Class Period and wish to serve as lead plaintiff, you must move the
court by October 26, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the
litigation. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
If you wish to obtain additional information, please fill out the questionnaire below.
District of Pennsylvania on behalf of purchasers of the common stock of CardioNet, Inc. ("CardioNet" or the "Company")
(NasdaqGM: BEAT) during the period between April 30, 2009 and June 30, 2009, inclusive (the "Class Period").
The complaint alleges that CardioNet and certain of its officers and directors violated the Securities Exchange Act of 1934 by
failing to disclose during the Class Period that the Company was experiencing reductions in its reimbursement rates for its
MCOT services, that these reimbursement rates were under review by payors, that a reduction in rates could result in the
Company's current independent business model not being economically viable and that, as a result, the Company's
financial outlook for 2009, 2010 and 2011 had no reasonable basis in fact. 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 purchased CardioNet common stock during the Class Period and wish to serve as lead plaintiff, you must move the
court by October 26, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the
litigation. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
If you wish to obtain additional information, please fill out the questionnaire below.
