The Shareholders Foundation announces that a deadline is coming up on May 20, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of L&L Energy Inc (NASDAQ: LLEN) between August 13, 2009 and September 18, 2013.
Investors who purchased a significant amount of shares of L&L Energy Inc (NASDAQ: LLEN) between August 13, 2009 and September 18, 2013, have certain options and should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 – 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in L&L Energy Inc (NASDAQ: LLEN) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/ll-energy-inc-nasdaq-llen-investor-securities-class-action-lawsuit-09232013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is May 20, 2015. The class action administrator for this case is Strategic Claims Services.
The lawsuit was originally filed in in the U.S. District Court for the Southern District of New York against L&L Energy Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between September 11, 2012 and September 18, 2013. According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of L&L Energy Inc (NASDAQ: LLEN) between September 11, 2012 and September 18, 2013, that L&L Energy Inc and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff alleges that the defendants between September 11, 2012 and September 18, 2013 made allegedly false and/or misleading statements and/or allegedly failed to disclose that L&L Energy Inc improperly accounted substantial revenue from operations that were already shut down, that L&L Energy Inc claimed acquisitions and divestitures of various properties through swap transactions that never occurred through the exchange of assets it never owned in the first place, that L&L Energy Inc lacked adequate internal and financial controls, and that as a result of the foregoing, L&L Energy Inc’s financial results were materially false and misleading at all relevant times.
On Sept. 19, 2013, an article was published that stated that “GeoInvesting is preparing to file a whistle blower 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 Inc 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”.
Those who purchased shares of L&L Energy Inc (NASDAQ: LLEN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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