MINNEAPOLIS, Oct. 31, 2007 (PRIME NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of Bravo! Brands, Inc. ("Bravo" or the "Company") (Pink Sheets:BRVO) publicly traded securities during the period November 20, 2005 through May 15, 2007 (the "Class Period").
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before December 17, 2007. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
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 also failed to timely disclose that it had defaulted on interest payments to senior note holders.
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 purchased Bravo! Brands, Inc. securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com)
Charles H. Johnson & Associates
2599 Mississippi Street
New Brighton, MN 55112
(651) 633-5685