April 22, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares Jamba, Inc. (NASDAQ:JMBA) was announced concerning whether certain Jamba officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Jamba officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for the adoption of the Jamba, Inc. 2013 Equity Incentive Plan.

In the Proxy Statement filed by Jamba, Inc. with the Securities and Exchange Commission the Board of Directors recommends that Jambas shareholders vote to approve the adoption of the Jamba, Inc. 2013 Equity Incentive Plan which would authorize an aggregate of up to 9,000,000 shares issuable under the plan.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on NASDAQ:JMBA common stock.

Jamba, Inc. reported that its annual Total Revenue declined from $301.64 million for the 52 weeks period that ended on Dec. 29, 2009 to $228.79 million for the 52 weeks period that ended on Jan. 1, 2013 and that its Net Loss of $23.95 million for the 52 weeks period that ended on Dec. 29, 2009 turned into a Net Income of $0.30 million for the 52 weeks period that ended on Jan. 1, 2013.

Shares of Jamba, Inc. (NASDAQ:JMBA) grew from $0.40 per share in March 2009 to $3.58 in 2010 and managed to trade as high as $2.55 in 2011 and $2.61 per share in 2012.

In March 2013, NASDAQ:JMBA shares reached as high as $3.00 per share.

On April 22, 2013, NASDAQ:JMBA shares closed at $2.56 per share.