Jones Soda Securities Action Fizzles In 9th Circ.

Law360, New York (August 31, 2010, 1:36 PM EDT) -- A federal appeals court has shut down a shareholder class action that claimed Jones Soda Co. intentionally overstated its ability to penetrate the carbonated soft drink market and increase revenues.

In a 2-1 decision, a three-judge panel of the U.S. Court of Appeals for the Ninth Circuit on Monday denied the Jones Soda shareholders' bid for leave to file a second amended complaint, which the district court denied when it dismissed the case.

Because the proposed second amended complaint did not cure the deficiencies of the...
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