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CardioNet, Inc. Provides Update on Litigation

  //health-fitness.news-articles.net/content/2010/ .. cardionet-inc-provides-update-on-litigation.html
  Published in Health and Fitness on Wednesday, August 11th 2010 at 15:21 GMT by Market Wire

CONSHOHOCKEN, Pa.--([ BUSINESS WIRE ])--CardioNet, Inc. (NASDAQ:BEAT), a leading wireless medical technology company with a current focus on the diagnosis and monitoring of cardiac arrhythmias, announced today that on August 10, 2010, the United States District Court for the Eastern District of Pennsylvania granted the Companya™s motion to dismiss the securities class action litigation filed in August 2009 against the Company and certain of its former officers.

"We are pleased with the Courta™s ruling and believe that the facts in the case clearly supported the Companya™s position."

Joe Capper, President and Chief Executive Officer, stated, aWe are pleased with the Courta™s ruling and believe that the facts in the case clearly supported the Companya™s position.a

About CardioNet

CardioNet is a leading provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individuala™s health. CardioNeta™s initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient Telemetry^TM (MCOTa"). More information can be found at [ http://www.cardionet.com ].

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the aSafe Harbora provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, our growth prospects, the prospects for our products and our confidence in the Companya™s future. These statements may be identified by words such as aexpect,a aanticipate,a aestimate,a aintend,a aplan,a abelieve,a apotential,a apromisesa and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, any appeal by the plaintiff in the class action of the court decision discussed above, the potential for CMSa™ re-evaluation of its proposal for carrier pricing of mobile cardiovascular telemetry during the public comments period prior to CMSa™ final ruling, the success of our efforts to address the operational issues, including cost savings initiatives, changes to reimbursement levels for our products and the success of our attempts to work with CMS to achieve a national rate for mobile cardiovascular telemetry, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, the continued consolidation of payors, acceptance of our new products and services and patent protection and litigation. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.