Law Offices of Howard G. Smith Announces Class Action Lawsuit Against L&L Energy, Inc.

  Law Offices of Howard G. Smith Announces Class Action Lawsuit Against L&L
  Energy, Inc.

Business Wire

BENSALEM, Pa. -- September 25, 2013

Law Offices of Howard G. Smith 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 the
securities of L&L Energy, Inc. (“L&L Energy” or the “Company”) (NASDAQ:LLEN)
between September 11, 2012 and September 18, 2013, inclusive (the “Class
Period”).

L&L Energy, through its subsidiaries, engages in the production, processing
and sale of coal in the People’s Republic of China. The Complaint alleges that
the Company issued false and/or misleading statements and failed to disclose
material facts concerning the Company’s business, operations and financial
performance. Specifically, the Complaint alleges that the defendants
misrepresented or failed to disclose that: (1) the Company improperly
accounted for substantial revenue from operations that were already shut down;
(2) the Company claimed acquisitions and divestitures of various properties
through swap transactions that never occurred through the exchange of assets
it actually never owned; (3) the Company 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, in an article by GeoInvesting published on the Seeking
Alpha website, GeoInvesting alleged 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 have amounted to a
“bait and switch shell game” by utilizing swap transactions that never
occurred,” and that reported revenue of $77.6 million generated from the
Company’s Hong Xing coal washing factory “was actually close to zero, if it is
not actually zero.”

Following this news, the price of L&L Energy shares dropped $0.80 per share,
or more than 38%, to a closing price of $1.27 per share on September 19, 2013,
on extremely heavy volume of more than 18 million shares traded.

If you are a member of the Class described above 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 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. If you have any questions
concerning this Notice or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215) 638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com