NEW YORK, Oct. 1, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased L & L Energy, Inc. ("L & L Energy" or the "Company") (Nasdaq:LLEN) common stock between September 11, 2012 and September 18, 2013.
For more information, click here: http://zlk.9nl.com/l-l-energy-llen/.
The complaint alleges that the Company misrepresented and/or failed to disclose that during the Class Period: (a) the Company improperly accounted for substantial revenue from operations that were already shut down; (b) the Company claimed acquisitions and divestitures of properties through swap transactions that never occurred through the exchange of assets it never owned; and (c) the Company lacked adequate internal and financial controls.
Shares of L & L Energy fell from a close of $2.07 per share on September 18, 2013 to a close of $1.27 per share upon a news report on GeoInvesting; this report alleges that L & L Energy is "defrauding investors by booking substantial revenue from operations that have been idled for quite some time."
If you suffered a loss in L & L Energy you have until November 22, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/l-l-energy-llen/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP