L&L Energy Shareholder Launches Stock Fraud Action

Law360, New York (August 29, 2011, 1:25 PM EDT) -- L&L Energy Inc. was hit Friday with a class action in Washington state alleging the company inflated its stock price by overstating its revenue and overvaluing its assets.

Plaintiff Jeff Mills claims L&L grossly overstated its revenue and profit in filings with the U.S. Securities and Exchange Commission from 2009 to 2011, and misled investors with overly optimistic public statements. When shareholders learned of L&L's alleged misstatements, the company's stock price plummeted, according to the suit.

The company and its executives "engaged in acts, practices and...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In re L&L Energy Inc Securities Litigation


Case Number

2:11-cv-01423

Court

Washington Western

Nature of Suit

Securities/Commodities

Judge

Robert S. Lasnik

Date Filed

August 26, 2011

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.