Linn Energy Execs Accused Of Pumping Up Stock Value

Law360, Houston (July 12, 2013, 4:34 PM EDT) -- A unitholder of Linn Energy LLC launched a derivative suit Friday in Texas court, alleging executives and board members at the energy giant hid hundreds of millions in investment expenses, prompting a federal investigation that caused the company's artificially inflated value to crash.

In his suit against Linn Energy's top execs and board members, John Peters claims a series of newspaper articles revealed the company's unusual practice of excluding from its income calculations costs related to financial derivatives purchased as a long-term hedge against volatile energy...
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