CP960 Stuck in 'Reset to Factory' loop

[DeanM]

Hi, we have recently purchased a CP960. When we first turn it on, all appears correct, but within 2 minutes the Mute buttons begin flashing for approx 30 seconds and then the screen displays the 'Reset to Factory' message. We can press the cancel button and it goes away, but comes back within 2 minutes again.
I have updated the firmware to the latest available (CP960-73.80.0.35.rom) with no change in behavior.
We are also using the recommend POE injector (YLPOE30) so i don't believe it is a power issue.
Has anyone else experienced this issue? Is there a fix? or should i just warranty the device?

Thanks
Dean