Law Offices of Todd M. Garber Announces Class Action Lawsuit Against L&L
LOS ANGELES -- September 27, 2013
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”) (NASDAQ: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 email@example.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
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