Investigation Overview
December 03, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Jammin Java Corp (OTCMKTS:JAMN) shares over potential securities laws violations by Jammin Java and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Jammin Java Corp (OTCMKTS:JAMN) concerning whether a series of statements by Jammin Java Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Jammin Java Corp reported that its Total Revenue rose from $1.82 million for the 12 months period that ended on January 31, 2013 to $8.90 million for the 12 months period that ended on January 31, 2015 while its Net Loss for those respective time periods increased from $4.02 million to $10.28 million.
On November 17, 2015, the U.S. Securities and Exchange Commission announced fraud charges against several alleged perpetrators behind a $78 million pump-and-dump scheme involving the stock of Jammin Java, including Jammin Javas former CEO Shane Whittle.
Shares of Jammin Java Corp (OTCMKTS:JAMN) declined to as low as $0.06 per share on November 17, 2015.
On December 3, 2015, OTCMKTS:JAMN shares closed at $0.13 per share.