Law Offices of Marc S. Henzel Announces Class Action Lawsuit Against IMPATH, Inc.

Business Editors/Legal Writers

BALA CYNWYD, Pa.--(BUSINESS WIRE)--Aug. 27, 2003

A class action lawsuit was filed in the United States District Court for the Southern District of New York, on behalf of purchasers of the securities of IMPATH, Inc. (NasdaqNM:IMPH) between April 25, 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 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 April 25, 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 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 has overstated its accounts receivable 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.

Plaintiff is represented by The Law Offices of Marc S. Henzel. If you are a member of the class, 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.

If you have any questions concerning this case or your rights or interests with respect to these matters, please contact: Marc S. Henzel, Esq. of The Law Offices of Marc S. Henzel, 273 Montgomery Ave, Suite 202 Bala Cynwyd, PA 19004-2808, by telephone [phone] or [phone], by facsimile [phone], by e-mail at [e-mail] or visit the firm's website at http://members.aol.com/mhenzel182.