Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuits Have Been Filed Against SunOpta, Inc.

SAN FRANCISCO, Feb. 15 /PRNewswire/ -- The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of purchasers of the securities of SunOpta Inc. ("SunOpta") NASDAQ: STKL between May 8, 2007 and January 25, 2008, inclusive (the "Class Period").

If you purchased SunOpta securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than March 28, 2008. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in this action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in this action.

SunOpta shareholders that wish to learn more about this action and how to seek appointment as lead plaintiff should visit Lieff Cabraser's website http://www.lieffcabrasersecurities.com/cases/sunopta.htm or contact Meagan Sullivan toll free at (800) 541-7358.

Background on SunOpta Securities Class Litigation

The actions, pending in the United States District Court for the Southern District of New York, were brought against SunOpta and certain of its officers and directors for violations of the Securities Exchange Act of 1934. SunOpta primarily operates in the natural and organic food sectors of the food industry in the United States and Canada.

The complaints in the above-mentioned actions allege that during the Class Period, defendants made material misrepresentation and omissions concerning SunOpta's financial condition and business prospects. Specifically, defendants allegedly and improperly overstated SunOpta's reported profitability during the Class Period and materially misrepresented that SunOpta's financial results were prepared in accordance with Generally Accepted Accounting Principles ("GAAP"). In addition, defendants allegedly failed to disclose that SunOpta lacked adequate internal and financial controls. Defendants were apparently motivated to engage in the alleged wrongdoing so that SunOpta insiders, including certain defendants, could sell more than $60 million of their personally held SunOpta stock at artificially inflated prices.

On January 24, 2008, after the market closed, SunOpta lowered its earnings guidance for the year-ending December 31, 2007 to between $0.12 to $0.14 per diluted share, from previous guidance of $0.35 to $0.40 per share, as a result of an anticipated $12 million to $14 million write-down and provisions. In addition, SunOpta revealed plans to restate its financial results from prior quarters. SunOpta explained that it needed to write-down inventories within one of its business divisions by approximately $9 million to $11 million and, further, that it had provisioned approximately $3 million related to difficulties in collecting payments for services and equipment provided to a customer. As a result of the foregoing, SunOpta was unable to provide guidance for fiscal 2008. In reaction to this news, the price of SunOpta common stock fell $3.51 per share, or 36.72 percent, from its closing price of $9.56 on January 24, 2008, to close on January 25, 2008 at $6.05 per share.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. In the 2007 edition of its annual list of the plaintiffs' law firms "doing the most to shape the law," The National Law Journal selected Lieff Cabraser as one of the nation's top plaintiffs' firms. Lieff Cabraser was also a member of The National Law Journal's Plaintiffs' "Hot List" from 2003 through 2006. The firm is one of only two plaintiffs' law firms in the nation to receive this award the last five years.

For more information about Lieff Cabraser and the firm's representation of investors, please visit http://www.lieffcabrasersecurities.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

     Source/Contact for Media Inquiries Only:

     Sharon Lee
     Lieff Cabraser Heimann & Bernstein, LLP
     Telephone:  (415) 956-1000