Berger & Montague, P.C. Announces Class Action Lawsuit Against IMPATH, Inc.

Business Editors/Legal Writers

PHILADELPHIA--(BUSINESS WIRE)--Sept. 2, 2003

The law firm of Berger & Montague, P.C. announces that a class action lawsuit was filed on August 12, 2003, on behalf of purchasers of the common stock of IMPATH, Inc. ("IMPATH" or the "Company") (NasdaqNM:IMPH) between February 21, 2001 and July 29, 2003, inclusive, (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").

The action is pending in the United States District Court for the Southern District of New York, against defendants Carter Eckert, James Agnello, David Cammarata, Richard P. Adelson, Anu D. Saad, and IMPATH, Inc.

The Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market between February 21, 2001 and July 29, 2003. The complaint alleges that IMPATH's quarterly press releases and SEC filings were materially false and misleading because they failed to disclose that the Company had materially overstated its accounts receivables and improperly capitalized a material asset, thereby artificially inflating the Company's reported Class Period results and financial condition. On July 30, 2003, before the open of regular trading, IMPATH issued a press release announcing that its audit committee had begun an investigation into possible "accounting irregularities" by the Company and that the Company believes it had overstated its accounts receivable and had been improperly capitalizing its GeneBank asset. As a result of these developments, IMPATH warned that a restatement of previously filed financial reports was "likely," and that the Company has advised its creditors that its financial reports "may have been inaccurate as a result of these issues." In response to this announcement, the NASDAQ Stock Market halted trading in the Company's common stock and announced that the stock will not resume trading until IMPATH provides NASDAQ with additional information.

If you bought the common stock of IMPATH between February 21, 2001 and July 29, 2003 and sustained damages, you may, no later than September 29, 2003, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.

The law firm of Berger & Montague, P.C. has over 50 attorneys, all of whom represent plaintiffs in complex litigation. The Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries of several billion dollars to investors. The firm has recently represented investors as lead counsel in actions against Rite Aid, Sotheby's, Waste Management, Inc., Sunbeam, Boston Chicken and IKON Office Solutions, Inc. The standing of Berger & Montague, P.C. in successfully conducting major securities and antitrust litigation has been recognized by numerous courts. Most recently, Judge Stewart Dalzell stated:

    " ... the skill and efficiency of the attorney involved ... (was)
      extraordinarily deft and efficient in handling this most
      complex matter."

    "...they were at least eighteen months ahead of the United
     States Department of Justice in ferreting out the conduct
     that ultimately resulted in the write-down of over $1.6
     billion in previously reported Rite Aid earnings.  Their
     attention to detail was such that when Rite Aid's financial
     concern lead to its willingness to consider renegotiating
     the non-cash portion of the Rite Aid 1 settlement, counsel
     aided by investment advisors...ultimately monetized the
     entire settlement and gained the class interest of
     $14,435,104 when interest rates were the lowest they
     have been in over forty years.  In short, it would be hard
     to equal the skill class counsel demonstrated here."

     In Re: Rite Aid Securities Litigation, Master File No.
     99-1349 (EDPA) (Settled in 2003 for in total for
     $334 million, $125 million against the accountants,
     the second largest settlement against an auditing firm)

If you purchased IMPH common stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:

      Sherrie R. Savett, Esquire
      Douglas Risen, Esquire
      Kimberly A. Walker, Investor Relations Manager
      Berger & Montague, P.C.
      1622 Locust Street
      Philadelphia, PA 19103
      Phone: [phone] or 215-875-3000
      Fax: [phone]
      Website: http://www.bergermontague.com
      e-mail: [e-mail]