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Case Status:    DISMISSED    
On or around 10/01/2018 (Court's order of dismissal)

Filing Date: August 23, 2018

According to the Complaint, Jamba, Inc. ("Jamba" or the "Company") is a global healthy lifestyle brand that inspires and simplifies healthful living through freshly blended whole fruit and vegetable smoothies, bowls, juices, cold-pressed shots, boosts, snacks, and meal replacements. Jamba’s blends are made with premium ingredients free of artificial flavors and preservatives, and the Company operates more than 800 Jamba Juice® locations worldwide.

On August 2, 2018, the Company announced that it had entered into a definitive agreement (the “Merger Agreement”), by which Focus Brands Inc. would commence a tender offer (the “Tender Offer”) to acquire all of the outstanding shares of Jamba common stock for $13.00 per share in cash (the “Merger Consideration”), in a transaction valued at approximately $200 million (the “Proposed Transaction”).

In connection with the commencement of the Tender Offer, on August 15, 2018, the Company filed a Recommendation Statement on Schedule 14D-9 (the “Recommendation Statement”) with the SEC. The Complaint alleges that the Recommendation Statement is materially deficient and misleading because it omits to disclose material information concerning: (i) the sales process leading up to the Proposed Transaction; (ii) Jamba’s financial projections; (iii) the valuation analyses performed by North Point; and (iv) conflicts of interest involving North Point.

This case was voluntarily dismissed as moot on September 14, 2018.

COMPANY INFORMATION:

Sector: Services
Industry: Restaurants
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: JMBA
Company Market: NASDAQ
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: D. Delaware
DOCKET #: 18-CV-01304
JUDGE: Hon. Colm F. Connolly
DATE FILED: 08/23/2018
CLASS PERIOD START: 08/02/2018
CLASS PERIOD END: 08/23/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
  2. O'Kelly Ernst & Joyce, LLC
    901 N. Market Street, Suite 1000, O'Kelly Ernst & Joyce, LLC, DE
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No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available