[Bug 1054648] [NEW] updates fail

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The GUI Updater fails repeatedley!
ran sudo apt-get update; screen parses lines then stops with this:
One error in listup:
Err http://extras.ubuntu.com precise Release

then:
Reading package lists... Error!
W: GPG error: http://us.archive.ubuntu.com precise Release: The following signatures were invalid: BADSIG 40976EAF437D05B5 Ubuntu Archive Automatic Signing Key <ftpmaster at ubuntu.com>
W: GPG error: http://archive.canonical.com precise Release: The following signatures were invalid: BADSIG 40976EAF437D05B5 Ubuntu Archive Automatic Signing Key <ftpmaster at ubuntu.com>
W: A error occurred during the signature verification. The repository is not updated and the previous index files will be used. GPG error: http://extras.ubuntu.com precise Release: The following signatures were invalid: BADSIG 16126D3A3E5C1192 Ubuntu Extras Archive Automatic Signing Key <ftpmaster at ubuntu.com>

W: Failed to fetch http://extras.ubuntu.com/ubuntu/dists/precise/Release

W: Some index files failed to download. They have been ignored, or old ones used instead.
E: Encountered a section with no Package: header
E: Problem with MergeList /var/lib/apt/lists/archive.canonical.com_ubuntu_dists_precise_partner_binary-i386_Packages
E: The package lists or status file could not be parsed or opened.

I need some help...

** Affects: update-manager (Ubuntu)
     Importance: Undecided
         Status: New

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updates fail
https://bugs.launchpad.net/bugs/1054648
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