NEW YORK, Aug. 9, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Jamba, Inc. ("JMBA"
or the "Company") (NASDAQ: JMBA) in connection with the
proposed acquisition of the Company by Focus Brands Inc.
("FBI"). Under the terms of the acquisition agreement,
shareholders will receive $13.00 in
cash for each JMBA share they own.
WeissLaw is investigating whether JMBA's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial
results. On June 26, 2018, JMBA
reported total revenue of approximately $21
million, reflecting an increase of $3.4 million year-over-year when compared to the
$17.6 million reported in the same
period of the previous year. In addition, JMBA also announced
that it saw a system-wide comparable store sales increase of 2.3%,
and reaffirmed its guidance for fiscal 2018.
Lastly, according to Steve
DeSutter, Chief Executive Officer of FBI, JMBA has "an
extremely loyal customer base and strong franchise operators, [and]
is one of the category leaders in the fast growing smoothie and
juice category. Accordingly, FBI is very eager to add JMBA to
their "family of well-known and highly loved 'fan favorite'
brands."
Given these facts, WeissLaw is investigating whether JMBA's
Board acted in the best interests of JMBA's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own JMBA shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website, http://www.weisslawllp.com/jamba-inc/
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SOURCE WeissLaw LLP
