LOS ANGELES, Sept. 21, 2007 LAWFUEL – The Legal Newswire — Glancy Binkow & Goldberg LLP — representing shareholders of Jones Soda Company — announces 45 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All persons and institutions who purchased or otherwise acquired the securities of Jones Soda Company (“Jones Soda”
or the “Company”) (Nasdaq:JSDA) between November 1, 2006, and August 2, 2007, inclusive (the “Class Period”), may move the Court not later than November 5, 2007, to serve as lead plaintiff; however, you must meet certain legal requirements.
If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to [email protected], or visit our website at www.glancylaw.com.
The Complaint charges Jones Soda and certain of the Company’s executive officers and directors with violations of federal securities laws.
Among other things, plaintiff claims that defendants’ material omissions and dissemination of materially false and misleading statements concerning the Company’s business, operations and prospects caused Jones Soda’s stock price to become artificially inflated, inflicting damages on investors. Jones Soda Co. engages in the development, production, marketing and distribution of beverages primarily in the United States and Canada. Its products include Jones Pure Cane Soda, Jones Organics, and Jones Energy, among others. The Complaint alleges that during the Class Period defendants issued positive statements touting distribution and production agreements with numerous major retailers. Defendants stated that each of these agreements was cemented and that the Company was poised to reap financial benefits. These statements further led the market to believe that major retailers had stocked the Company’s sodas on their shelves for sale, or that the sodas would be stocked on these retailers’
Then, on August 3, 2007, the Company announced that earnings for the quarter ended June 30, 2007 were well below Wall Street’s expectations, and that the Company’s canned products were not on enough store shelves in time for the peak summer season sales, which began during the Memorial Day weekend. As a result of this news, the price of Jones Soda stock plummeted nearly 23 percent in after-hours trading to $11.70 a share.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than November 5, 2007, to serve as lead plaintiff, however, you must meet certain legal requirements. 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 Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at
(310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to [email protected]