An investigation for investors in Linn Energy LLC (NASDAQ:LINE) shares over potential securities laws violations by Linn Energy LLC was announced and NASDAQ:LINE GN stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 07/08/2013 -- An investigation on behalf of investors of Linn Energy LLC (NASDAQ:LINE) shares over potential securities laws violations by Linn Energy LLC and certain of its directors and officers in connection certain financial statements was announced.
If you purchased shares of Linn Energy LLC (NASDAQ:LINE), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Linn Energy LLC (NASDAQ:LINE) concerning whether a series of statements by Linn Energy LLC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Linn Energy LLC reported that its annual Total Revenue rose from over $1.62 billion in 2011 to over $1.77 billion in 2012. However its Income of $438.44 million in 2011 delinced to a Net Loss of $386.62 million in 2012.
Shares of Linn Energy LLC (NASDAQ:LINE) grew from $13.18 per share in March 2009 to as high as $42.10 per share in October 2012.
On February 21, 2013 LINN Energy, LLC (Nasdaq:LINE), LinnCo, LLC (Nasdaq:LNCO) and Berry Petroleum Company (NYSE:BRY) announced the signing of a merger agreement pursuant to which LINN Energy and LinnCo will acquire all of Berry Petroleum’s outstanding shares for total consideration of $4.3 billion, including the assumption of debt. Under the terms of the agreement, LinnCo has agreed to issue 1.25 common shares for each common share of Berry Petroleum Company outstanding prior to the merger. The consideration to be received by Berry Petroleum shareholders is valued at $46.2375 per NYSE:BRY share based on LinnCo's closing price as of February 20, 2013.
On July 1, 2013, LINN Energy, LLC (Nasdaq:LINE) and LinnCo, LLC (Nasdaq:LNCO) announced that they have been notified by the staff of the Securities and Exchange Commission ("SEC") that its Fort Worth Regional Office has commenced a private, non-public inquiry regarding LINN Energy and LinnCo. The SEC has requested the preservation of documents and communications that are potentially relevant to, among other things, LinnCo's proposed merger with Berry Petroleum Company, and LINN Energy and LinnCo's use of non-GAAP financial measures and hedging strategy.
Shares of Linn Energy LLC (NASDAQ:LINE) dropped from $33.29 per share on July 1, 2013 to $22.79 per share on July 3, 2013.
On July 5, 2013, NASDAQ:LINE shares closed at $23.45 per share.
Those who purchased shares of Linn Energy LLC (NASDAQ:LINE), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
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