Though it might not be the most reliable source of information, Less Than Jake has updated their myspace page to reflect a label of "None" suggesting that the band may have parted ways with Warner Bros.
The band released two albums and one b-sides compilation via the label and recent messages from the band and other changes suggest that they are looking for a change of musical direction. Even drummer Vinnie has posted some cryptic notes on his official blog, which serve only to increase speculation:
Pouring over detailed notes, numbers and sketches. I'm going to be the first to say there are big things headed our way. When i stop and think i can almost feel it in the air, it has an excitement and electricity in it. I am almost home to Gainesville and "the ville" will be slow, college is out - kids are gone, traffic is almost non existent and I've been told it will be 90 degrees out when I get there. Perfect timing for some hard thought and planning.
As a final note, the band has also taken control of their official website and it has been relaunched with a minimalist blog-type structure.