A lawsuit was filed for certain investors in shares of LinnCo LLC (NASDAQ:LNCO) over alleged securities laws violations. Deadline: September 9, 2013. NASDAQ:LNCO investors should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 07/29/2013 -- An investor, who purchased shares of LinnCo LLC (NASDAQ:LNCO) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by LinnCo LLC, certain of LinnCo’s officers and directors, and the underwriters involved in LinnCo’s initial public offering (“IPO”) on October 12, 2012.
Investors who purchased shares of LinnCo LLC (NASDAQ:LNCO) in or traceable to LinnCo’s IPO on October 12, 2012 to July 1, 2013, have certain options and there are short and strict deadlines running. Deadline: September 9, 2013. NASDAQ:LNCO investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges that the defendants violated Sections 11 and 15 the Securities Act of 1933 by issuing allegedly materially false and misleading IPO Registration Statement.
On Jan. 11, 2012 LINN Energy, LLC announced that it planned to conduct a public offering of 17,000,000 units of its limited liability company interests.
On Oct. 2, 2012 LINN Energy, LLC announced that LinnCo, LLC, a wholly-owned subsidiary of LINN Energy, has commenced an initial public offering of 30,250,000 common shares representing limited liability company interests in LinnCo.
On Oct. 11, 2012 LINN Energy, LLC announced the pricing of the initial public offering of 30,250,000 common shares of LinnCo, LLC at $36.50 per common share.
On February 21, 2013 LINN Energy, LLC, LinnCo, LLC and Berry Petroleum Company 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.
Units of LinnCo LLC (LNCO) reached in April 2013 $42.80 per share.
Then on July 1, 2013, LINN Energy, LLC and LinnCo, LLC 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.
Units of LinnCo LLC (LNCO) dropped from $37.07 per unit on July 1, 2013, to $23.61 per unit on July 5, 2013.
Those who purchased shares of LinnCo LLC (NASDAQ:LNCO), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego