LOS ANGELES--(BUSINESS WIRE)--
The Law Offices of Todd M. Garber announces that all purchasers of LinnCo, LLC (“LinnCo” or the “Company”) (LNCO) shares pursuant or traceable to the Company’s Registration Statement and Prospectus issued in connection with LinnCo’s initial public offering commencing October 12, 2012 through 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 New York. Investors with losses of $1 million or more are encouraged to contact the firm for information concerning a lead plaintiff position in the shareholder lawsuit.
LinnCo is a Delaware limited liability company whose sole purpose is to own limited liability company interests, or “units,” in Linn Energy, LLC -- an independent natural gas exploration and production company. LinnCo has no significant operations or assets other than its ownership of Linn Energy units, and LinnCo’s cash flow consists exclusively of distributions from Linn Energy. On February 20, 2013 Linn Energy and LinnCo announced an agreement to merge with Berry Petroleum Company by issuing LinnCo shares to Berry Petroleum shareholders, and Linn Energy would then acquire the operating assets of Berry Petroleum from LinnCo in exchange for additional Linn Energy units.
The Complaint alleges that the Registration Statement issued in connection with LinnCo’s initial public offering was false and misleading or failed to disclose material adverse facts concerning LinnCo’s business and financial condition. Specifically, the Complaint alleges defendants issued false and/or misleading statements and/or failed to disclose to investors that Linn Energy was overstating the cash flow available for distribution to Linn Energy unitholders such as LinnCo by, among other things, excluding the cost of certain hedging transactions from its calculation of “Adjusted EBITDA.”
If you are a member of the above-described Class, 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 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 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.
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- Company Legal & Law Matters
- Investment & Company Information
- Linn Energy
- Berry Petroleum Company
Todd M. Garber, Attorney at Law
Los Angeles, California