LOS ANGELES--(BUSINESS WIRE)--
The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of L&L Energy, Inc. (“L&L Energy” or the “Company”) (LLEN) securities between September 11, 2012 and September 18, 2013 (the “Class Period”).
L&L Energy engages in the production, processing and sale of coal in the People’s Republic of China. The Complaint alleges that the Company misrepresented and failed to disclose material facts concerning the Company’s business, operations and financial performance. Specifically, the Complaint alleges that the Company: (1) improperly accounted for substantial revenue from operations that were already shut down; (2) claimed acquisitions and divestitures of various properties through swap transactions that never occurred through the exchange of assets it actually never owned; (3) lacked adequate internal and financial controls; and (4) as a result of the foregoing, L&L Energy’s financial results were materially false and misleading at all relevant times.
On September 19, 2013, GeoInvesting alleged, in an article on the Seeking Alpha website, that the Company has been “booking substantial revenue from operations that have been idled for quite some time,” that numerous acquisitions and divestitures by the Company utilized “swap transactions that never occurred,” and that the Company reported inflated revenue for its Hong Xing coal washing facility.
If you are a member of the above-described Class, you may move the Court no later than November 22, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you may retain counsel of your choice or take no action and remain an absent member of the Class. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
- Company Legal & Law Matters
- United States District Court
Todd M. Garber, Attorney at Law
Los Angeles, California