Originally published Wednesday, June 24, 2009 at 1:05 PM

Judge denies request to amend shareholder lawsuit against Jones Soda that was dismissed

An effort to amend shareholder litigation against Jones Soda, founder Peter van Stolk and other executives and directors was denied on Monday...

By Melissa Allison

Seattle Times business reporter

An effort to amend shareholder litigation against Jones Soda, founder Peter van Stolk and other executives and directors was denied on Monday by the U.S. District Court for Western Washington.

The lawsuit alleged that they misled investors by misstating the company's market penetration, which led to the stock's overvaluation. It also claimed that van Stolk and others sold their personal stock to profit before the truth came out.

The court had dismissed the case in February, when Judge Robert Lasnik wrote that "plaintiffs acknowledge that the stock sales alleged in the complaint are not suspicious."

Although this suit was a compilation of several shareholder claims, there remains another so-called "derivative" lawsuit, which shareholders filed on behalf of a company against its management. Lasnik is expected to hear that lawsuit next.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com

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