From their blog:
This past week was one of the most difficult ever for us as a band. We had to make an incredibly hard decision that has a direct effect on our future. Earlier this week our record label [Universal] offered us a chance to record a cover song for a large corporation to be used in a commercial. In addition to using the song in the commercial they wanted us to put it on our record and potentially use it as a single. We turned down the offer(knowing the probable consequences), and our record label dropped us. Needless to say, this came at a bad time since we were a week away from recording our next record. At the moment we are weighing all of our options and still plan on recording next month. We will release another record, we just are not sure with what record label. We promise to keep you up to date with new information and as always check back here for new show dates and content.
I’m pretty upset about this. Exhibit A was one of the best albums of 2004.