Newman Ferrara LLP Announces Securities Class Action Against L & L Energy,
Inc. and Advises of Lead Plaintiff Deadline
NEW YORK -- September 26, 2013
Newman Ferrara LLP announces that a class action lawsuit has been filed in the
Unites States District Court, Southern District of New York against L&L
Energy, Inc. (NASDAQ:LLEN) (“L & L” or the “Company”) and certain of its
executive officers, alleging violations of federal securities laws.
Investors who purchased L & L securities between September 11, 2012 and
September 18, 2013 (the “Class Period”) may apply with the Court to be
appointed Lead Plaintiff no later than November 22, 2013. The Lead Plaintiff
will direct the litigation on behalf of the other class members.
L&L is a coal-mining company that, through various subsidiaries, engages in
mining, clean coal washing, coal coking, and coal wholesaling in China.
It is alleged that during the Class Period, L & L defendants issued materially
false and misleading statements or failed to disclose material facts
concerning operations at certain of the Company’s properties, that the Company
has engaged in allegedly fraudulent swap transactions, improper accounting,
and that its financial reporting was materially misleading.
On September 19, 2013, after an article was published by GeoInvesting, stating
that it “is preparing to file a whistleblower report to the NASDAQ and SEC
that will accuse L & L Energy of defrauding investors by booking substantial
revenue from operations that have been idled for quite some time,” L & L
shares fell $0.80 per share, or more than 38%, to a close at $1.27 per share.
Investors who purchased shares of L& L during the Class Period may
contactNewman Ferrara partner Jeffrey M. Norton (firstname.lastname@example.org) by email
or call (212) 619-5400 to discuss this lawsuit or the Lead Plaintiff process.
Whistleblowers: Persons with knowledge that may aid in the investigation of
this matter are encouraged to contact the firm. Under the Dodd-Frank Wall
Street Reform Bill, whistleblowers are protected from employer retaliation and
may be entitled to as much as 30 percent of the recovery if the information
provided leads to a successful action.
Newman Ferrara maintains a multifaceted practice based in New York City with
attorneys specializing in complex commercial and multi-party litigation,
securities fraud and shareholder litigation, consumer protection, civil
rights, and real estate. For more information, please visit the firm website
Newman Ferrara LLP
Jeffrey M. Norton, 212-619-5400
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