Vianale & Vianale LLP Announces Expanded Class Period in Shareholder Class Action Brought Against Officers of Bravo! Brands Inc.
12 Diciembre 2007 - 1:22PM
Marketwired
BOCA RATON, FL (PINKSHEETS: BRVO) between March 22, 2005 and May
15, 2007 (the "Class Period"). A copy of the complaint can be
obtained by calling our offices or viewed on Vianale &
Vianale's website at: www.vianalelaw.com. The action (Case No.
07-81181-CIV) is pending in federal court in West Palm Beach.
The complaint expands the prior Class Period and alleges that
Bravo's financial statements and SEC filings were false beginning
at least as early as March 22, 2005. The complaint alleges that
Bravo CEO Roy G. Warren and Chief Accounting Officer Tommy E. Kee
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. Bravo
announced several restatements to its financials.
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.
If you bought the securities of Bravo! between March 22, 2005
and May 15, 2007, no later than December 17, 2007, you may move the
court to appoint you as lead plaintiff, a representative party that
acts on behalf of other class members. The court must determine
whether the class member's claim is typical of other members'
claims, and whether the class member will adequately represent the
class. Your ability to recover is not, however, affected by the
decision whether or not to serve as a lead plaintiff. Vianale &
Vianale LLP is active in major litigations pending in federal and
state courts. More about the firm is available on its website.
If you wish to discuss this action with us, or have any
questions concerning our lawsuit, this notice or your rights and
interests with regard to this case, please contact:
Contact: Kenneth J. Vianale, Esq. Julie Prag Vianale, Esq.
Vianale & Vianale LLP 2499 Glades Road, Suite 112 Boca Raton,
FL 33431 888-657-9960 (Toll Free) 561-392-4750 Email: Email
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