In October 2009, James Sokol, a former salesperson for the Drinks Americas Holdings, Ltd., filed suit against the comapny. and its Chief Executive Officer in the Superior Court for the Judicial District of Fairfield at Bridgeport (Docket Number CV 09 5027925 S) claiming unpaid compensation of $256,000.00. The maximum exposure to the company and its CEO under the Suit was approximately $520,000.00 for double damages plus attorney's fees and costs. As of November 30, 2009, the company pledged 15,000,000 shares of company common stock in lieu of a prejudgment remedy that the Plaintiff had sought against the company and its Chief Executive Officer. On July 12, 2010, the company and Mr. Sokol reached a settlement of the Suit pursuant to which Mr. Sokol withdrew the Suit on July 16, 2010 and thereafter returned the 15,000,000 shares of company common stock representing the Settlement Stock to the company.

Drinks Americas Holdings, Ltd. announced that it will introduce Rheingold Beer, New York's Beer since 1883. Orders for Rheingold Beer are in place from key Metro New York distributors. The company will be partnering with Phoenix Beverage Company, distributors of Heineken, Miller Beer, and Brooklyn Beer, in the heart of Rheingold's market of Metro New York and Brooklyn. In New Jersey, Rheingold will be distributed by L.A. Piccirillo. F&F Distributors, Franklin Distributors and Drinx Unlimited will distribute the brand in Connecticut. The last time Rheingold Beer was marketed prior to the brand's acquisition by Drinks Americas in 2005, Rheingold sold approximately $5 million in annual revenue in Metro New York. Since 2005, the economy beer segment continues to expand driven by consumer and retail trends in the current economy.

Drinks Americas Holdings, Ltd. expected to report Fiscal Year 2010 results on August 12, 2010. This event was calculated by Capital IQ (Created on June 27, 2010).