Windows 7: Lenovo G570 Laptop mouse freeze & cursor issue

I have a Lenovo G570 Laptop & currently i'm experiencing an issue. My laptop mouse is freezing at regular intervals alongwith the selection cursor pushing to the last item i.e. last folder in the list or last file in the list or last character in the line & likewise. it is like the mouse & cursor go into a fit & I loose the control. I have tried controlling the selection cursor with the keyboard but all that i can do is end up ALT + TAB to switch between windows. Then in some time laptop comes back to normal & then 10 min later goes into the fit. I have formatted my PC as well as started it in safe mode but to no avail. Please suggest what should i do ?