L&L Energy, Inc.
Class Period: Aug 13, 2009 to Aug 2, 2011
Lead Plaintiff Deadline: Oct 25, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against L&L Energy, Inc. ("L&L" or the "Company") on behalf of all persons who purchased the common stock of L&L between August 13, 2009 to August 02, 2011. This case has been filed in the USDC - Washington (Western).
The Complaint alleges that L&L Energy and certain of its officers and directors issued materially false and misleading information about the Company's internal controls and true business and financial condition. On July 29, 2011 the Company amended its fiscal year 2010 10-K to disclose further internal control deficiencies within the Company. On or about August 2, 2011, analyst firm Glaucus Research issued a report showing that L&L Energy's 2009 financial statements filed with Chinese authorities showed much worse financial metrics than L&L Energy had represented in its SEC filings. The report also raised a number of red flags, including that certain operating subsidiaries were not in the name of the Company. The Complaint alleges that when this adverse information entered the market, the price of L&L Energy stock fell, damaging investors.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.