NEW YORK, March 16, 2015 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Jamba, Inc. ("Jamba"
or the "Company") (NASDAQ: JMBA). Such investors are advised
to contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Jamba and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On March 16, 2014, Jamba announced
that the Company filed a Form 12b-25 with the Securities and
Exchange Commission providing for a 15 calendar day extension for
its Annual Report on Form 10-K for the fiscal year ended
December 31,
2014. According to the Company, it had "filed the
Form 12b-25 because it has not yet completed the assessment of the
Company's internal control over financial reporting and, as a
result, its independent registered public accounting firm has not
completed their audit and assessment of the Company's internal
control over financial reporting. The Company plans to report in
its Form 10-K that as of December 30,
2014, a material weakness existed in its control over
financial reporting due to an insufficient complement of finance
and accounting resources within the organization, in part
attributable to employee turnover related to recently implemented
cost reductions and infrastructure changes, to ensure the proper
application of GAAP with respect to the Company's non-routine
transactions."
On this news, shares of Jamba fell $0.53 per share to $13.90, or more than 3.67%, in after-hours
trading on March 16, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San
Diego and Florida, is
acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late
Abraham L. Pomerantz, known as the
dean of the class action bar, the Pomerantz Firm pioneered the
field of securities class actions. Today, more than 70 years later,
the Pomerantz Firm continues in the tradition he established,
fighting for the rights of the victims of securities fraud,
breaches of fiduciary duty, and corporate misconduct. The Firm has
recovered numerous multimillion-dollar damages awards on behalf of
class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP