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WeissLaw LLP Investigates Jamba, Inc. Acquisition

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WeissLaw LLP Investigates Jamba, Inc. Acquisition

PR Newswire

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

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