Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Jones Soda Co. (“Jones Soda” or the “Company”) (Nasdaq: JSDA) relating to the proposed acquisition by Reeds, Inc. (“Reeds”) Under the terms of the offer, Jones Soda shareholders would receive an aggregate of 4.5 million shares of Reed’s common stock (or approximately 0.17 of a share of Reed’s common stock per share of Jones Soda common stock) and cash of $0.10 for each share of Jones Soda stock they own. The offer values Jones Soda’s stock at approximately $0.37 per share.
The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Jones Soda board’s approval of the proposed acquisition. The transaction appears to be unfair, in part, given that Jones Soda stock was trading at $0.769 a share as recently as February 24, 2010 and was trading at $1.31 a share on January 10, 2009. Further, there is no financing contingency and if Reed’s is unable to secure all or part of the cash, any deficit would instead be paid in additional shares of Reed’s common stock.
If you own shares of Jones Soda and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.