RADNOR, Pa., Sept. 13 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP: Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Western District of Washington on behalf of all purchasers of securities of Jones Soda Company (NASDAQ:JSDA) ("Jones Soda" or the "Company") from November 1, 2006 through August 2, 2007 inclusive (the "Class Period").
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 Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at .
The Complaint charges Jones Soda and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Jones Soda engages in the development, production, marketing, and distribution of beverages primarily in the United States and Canada. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company had experienced significant production and distribution delays in the national rollout of its canned products; (2) that the Company lacked the necessary personnel to launch its national rollout of canned products; (3) that the Company had failed to secure adequate retail shelf space for its canned products in advance of the Memorial Day holiday weekend, the start of the beverage selling season; (4) as such, the Company's canned products would not be widely available for sale in major retail chains in time to capitalize on the Memorial Day holiday weekend sales opportunity; (5) that the planned national rollout of the Company's canned products had failed to achieve internal expectations or targets; (6) that the Company would be forced to cancel its advertising planned for the Memorial Day holiday weekend; (7) that Starbucks had intended to discontinue sales of the Company's products; and (8) that, as a result of the foregoing, the Company's statements about its future business operations and prospects were lacking in a reasonable basis when made.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.
For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com/ If you are a member of the class described above, you may, not later than November 5, 2007, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin Barroway Topaz & Kessler or other counsel of your choice, to serve as your counsel in this action.
CONTACT: Schiffrin Barroway Topaz & Kessler, LLP
Darren J. Check, Esq. Richard A. Maniskas, Esq. 280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at DATASOURCE: Schiffrin Barroway Topaz & Kessler, LLP CONTACT: Darren J. Check, Esq. or Richard A. Maniskas, Esq., both of Schiffrin Barroway Topaz & Kessler, LLP, +1-888-299-7706, +1-610-667-7706, Web site: http://www.sbtklaw.com/
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