Securities Class Suit Against Jones Soda Goes Flat

Law360, New York (February 11, 2009, 12:00 AM EST) -- A federal judge has tossed a shareholder class action against Jones Soda Co. alleging that false statements by the company's former CEO and others about market penetration led to an overvaluation of the stock and its subsequent fall after investors heard a disquieting report on the company's market penetration about a year later.

On Monday, Judge Robert S. Lasnik of the U.S. District Court for the Western District of Washington called the plaintiffs' reading of Jones Soda's corporate statements “unreasonable” several times throughout the 15-page ruling,...
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