LOS ANGELES--(BUSINESS WIRE)--
Glancy Binkow & Goldberg LLP announces that all purchasers of Linn Energy, LLC (“Linn Energy” or the “Company”) (LINE) units between February 24, 2011 and July 1, 2013, inclusive (the “Class Period’), have until September 9, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of Texas.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Linn Energy is an independent oil and natural gas company engaged in the acquisition and development of oil and natural gas properties. In its regulatory filings with the Securities and Exchange Commission, Linn Energy states that to reduce its exposure to oil and natural-gas price fluctuations and provide long-term cash flow predictability, Linn Energy engages in certain hedging strategies on a significant portion of its forecasted production. The Complaint alleges that throughout the Class Period defendants issued materially false and misleading statements or failed to disclose that: (1) the Company engaged in improper accounting for its hedging strategy, which included failing to properly treat certain hedging costs invested in derivatives as expenses; (2) by improperly using non-GAAP financial measures to account for certain derivatives, the Company was overstating its cash flow available for distribution to unit holders; and (3) the Company's energy production was not increasing, despite its heavy capital expenditures.
If you are a member of the Class described above you may move the Court no later than September 9, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
To learn more about this action or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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