Jones Soda says SEC ends probe
NEW YORK (Reuters) - Jones Soda Co JSD.V (JSDA.O) said on Monday U.S. securities regulators ended an informal probe into trading by company executives and will not recommend enforcement action.
Jones, known for sweetening its sodas with cane sugar instead of high-fructose corn syrup, said it was advised of the probe's end on October 25 when it received a letter from the San Francisco Regional Office of the U.S. Securities and Exchange Commission.
Last month Jones said it was the object a shareholder complaint accusing some officers and directors of the company, including Chief Executive Peter van Stolk, of breaching their fiduciary duties, engaging in insider trading and becoming unjustly enriched.
The company also said two securities class action lawsuits had been filed against it, alleging company executives made false and misleading statements that artificially inflated its stock price.
At the time CEO van Stolk denied the allegations in an interview with Reuters.
Jones shares were down 8 cents, or less than 1 percent, at $9.89 on the Nasdaq, after initially rising as high as $10.90.
