Case Page

 

Case Status:    DISMISSED    
On or around 05/14/2008 (Notice of voluntarily dismissal)

Filing Date: October 16, 2007

On May 12, 2008, the plaintiff filed a Notice of Voluntary Dismissal Without Prejudice. On May 14, 2008, U.S. District Judge Kenneth L. Ryskamp issued the Order closing the case.

The complaint alleges that Bravo CEO and Chief Accounting Officer violated the Securities Exchange Act of 1934. During the Class Period, Bravo concealed that its sole distributor, Coca Cola Enterprises, Inc. ('CCE'), had drastically cut its demand for Bravo's milk-drinks. (Bravo sold its products under the brand names Slammers and Bravo.) Bravo also failed to timely disclose that it had defaulted on interest payments to senior note holders.

Specifically, the complaint alleges that Bravo falsely told investors on April 3, 2007, that it had expanded its drink products by introducing the first milk-based sports drink. Only one month later, Bravo announced that it would substantially reduce its workforce, that it would not roll out brands into new channels of distribution, and that its sales with CCE had declined substantially in April and May 2007. On May 15, 2007, the last day of the Class Period, Bravo announced that it had recognized a $17.6 million non-cash impairment charge during the quarter ended March 31, 2007. On September 21, 2007, Bravo filed for bankruptcy.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Beverages (Non-Alcoholic)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BRVO
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 07-CV-80966
JUDGE: Hon. Kenneth L. Ryskamp
DATE FILED: 10/16/2007
CLASS PERIOD START: 11/20/2005
CLASS PERIOD END: 05/15/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. David R. Chase, P.A.
    1700 Fast Las Olas Blvd., Penthouse 2, David R. Chase, P.A., FL 33301
    954.920.7779 954.920.7779 · david@davidchaselaw.com
  2. Gainey & McKenna, LLP (former)
    485 Fifth Avenue, 3rd Floor, Gainey & McKenna, LLP (former), NY 10017
    212.983.1300 212.983-0383 · tjmckenna@gaineyandmckenna.com
  3. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
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