|[September 28, 2013]
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against L&L Energy, Inc.
LOS ANGELES --(Business Wire)--
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 alreay 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.
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