An investigation for investors in L&L Energy, Inc. (NASDAQ:LLEN) shares over potential securities laws violations by L&L Energy was announced and NASDAQ:LLEN stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 09/23/2013 -- An investigation on behalf of investors of L&L Energy, Inc. (NASDAQ:LLEN) shares over potential securities laws violations by L&L Energy and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of L&L Energy, Inc. (NASDAQ:LLEN) have certain options and 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 L&L Energy, Inc. (NASDAQ:LLEN) concerning whether a series of statements by L&L Energy, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
L&L Energy, Inc. reported that its Total Revenue rose from $112.94 million for the 12 months period that ended on April 30, 2012 to $198.98 million for the 12 months period that ended on April 30, 2013, and that its respective Net Income increased from $14.25 million to $38.35 million.
Shares of L&L Energy, Inc. (NASDAQ:LLEN) grew from $1.38 per share in May 2012 to as high as $4.20 per share in May 2013.
Then on Sept. 19, 2013, an article was published that stated that “GeoInvesting 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.“ The same day L&L Energy, Inc responded to the GeoInvesting allegations. L&L Energy, Inc said that the Board of Directors of L&L Energy is unaware of inaccuracy with respect to material facts or material omission contained in its filings with the United States Securities and Exchange Commission and that its CEO commented that “GeoInvesting has made false and misleading statements about the Company in the past, while admitting they were actively shorting our stock”.
Shares of L&L Energy, Inc. (NASDAQ:LLEN) declined from $2.22 per share on Sept. 18, 2013, to as low as $1.14 per share on Sept. 19, 2013 and closed on Sept. 20, 2013, at $1.26 per share.
Those who purchased shares of L&L Energy, Inc. (NASDAQ:LLEN), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)