Thanks for your report.
This is due to a corrupted package list. Remove the file
/var/lib/apt/lists/us.archive.ubuntu.com_ubuntu_dists_jaunty_universe_binary-i386_Packages
(or the one mentioned by the error message) and run:
$ sudo apt-get clean
$ sudo apt-get update
and perform the upgrade again. This will likely fix your issue. If so,
set the status of this report to invalid. Thanks in advance!
** Changed in: update-manager (Ubuntu)
Status: New => Incomplete
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Could not initialize the package information
https://bugs.launchpad.net/bugs/374319
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