Lawsuits & Judgments

On September 14^th the Minnesota law firm of Charles H Johnson and Associates announced a the filing of a class action lawsuit against the soda pop maker Jones Soda Company. As you would expect, the suit alleges that false or misleading statements from the company artificially increased the company’s stock price and the share holders are, of course, alleged to have suffered as a result.

The suit comes after the release of Jones Soda’s 4^th quarter results which were lower then expected. Earlier in the year Jones had stated that they were in the process of obtaining distribution agreements with national retails such as Wal-Mart, Safeway and K Mart for the companies new line of 12 oz canned sodas. Further, the company the announced that it was on track to capture 25% f the canned soda market, worth more than $60 billion, by the end of the year.

According to the story on CNN.com, the announcement caused the Jones stock price to jump by $3, or 21 % in a single day. On August 2nd, the company released its fourth quarter results which included the sales figures for the canned soda lines and the company had to admit it was having trouble getting the retail space agreements it had alluded to earlier. The share price dropped 23% to $11.70 per share on the news.

If you bought Jones Soda Company stock (ticker symbol JSDA) between November 1, 2006 and August 2nd, 2007 you may be an eligible member of this class and should contact Charles H. Johnson & Associates at cjohnsonlaw@gmail.com