NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased the common stock of L&L Energy, Inc. (NASDAQ: LLEN) during the period from August 13, 2009 through August 2, 2011, seeking to recover damages for violations of federal securities laws.
To join the L&L Energy class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action. 如果您講中文，請致電張律師212-686-1060，或電郵 szhang@rosenlegal.com, 獲取該集體訴訟案件的具體信息. The case filed by the Rosen Law Firm is pending in the U.S. District Court for the Western District of Washington.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against L&L Energy and certain of its officers and directors for issuing 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 wish to serve as lead plaintiff, you must move the Court no later than October 25, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm’s website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.