NEW YORK, Oct. 17, 2007 LAWFUEL – Legal Newswire — The Brualdi Law Firm
announces that a class action lawsuit has been filed on October 16,
2007 on behalf of purchasers of the securities of Bravo! Brands, Inc.
(“Bravo”) (Pink Sheets:BRVO) between November 20, 2005 and May 15, 2007
(the “Class Period”).
If you bought the securities of Bravo between November 20, 2005 and May
15, 2007, no later than December 17, 2007, you may move the court to
appoint you as lead plaintiff, a representative party that acts on
behalf of other class members. Your ability to recover is not, however,
affected by the decision whether or not to serve as a lead plaintiff.
To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss this
action or have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Tali Leger,
Director of Shareholder Relations at The Brualdi Law Firm, 29 Broadway,
Suite 2400, New York, New York 10006, by telephone toll free at (877)
495-1877 or (212) 952-0602, by email to [email protected] or
visit our website at http://www.brualdilawfirm.com/
The complaint alleges that Bravo CEO Roy G. Warren and Chief Accounting
Officer Tommy E. Kee violated the Securities Exchange Act of 1934.
During the Class Period, Bravo concealed that its sole distributor,
Coca Cola Enterprises, Inc. (“CCE”), had drastically cut its demand for
Bravo’s milk drinks. (Bravo sold its products under the brand names
Slammers and Bravo.) Bravo also failed to timely disclose that it had
defaulted on interest payments to senior note holders.
Bravo falsely told investors on April 3, 2007 that it had expanded its
drink products by introducing the first milk-based sports drink. Only
one month later, Bravo announced that it would substantially reduce its
workforce, that it would not roll out brands into new channels of
distribution, and that its sales with CCE had declined substantially in
April and May 2007. On May 15, 2007, the last day of the Class Period,
Bravo announced that it had recognized a $17.6 million non-cash
impairment charge during the quarter ended March 31, 2007. On September
21, 2007, Bravo filed for bankruptcy.