NEW YORK, Sept. 20, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at L & L Energy, Inc. ("L & L Energy" or the "Company") (NasdaqGS: LLEN).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and financial performance.
L & L Energy, through its subsidiaries, purports to be engaged in the production, processing, and selling of coal in the People's Republic of China with vertically-integrated operations that include mining, washing, wholesale, and distribution. On September 19, 2013, the SeekingAlpha website published a report by GeoInvesting, a company that provides research and analysis on U.S.-listed Chinese companies. The report claims that L & L Energy defrauded investors by booking substantial revenue from idle operations and engaging in fraudulent swap transactions. GeoInvesting disclosed that it is planning to file a whistleblower report with the NASDAQ and the SEC informing them of these findings.
On this news, L & L Energy's stock plummeted more than 38% to close at $1.27 per share on September 19, 2013.
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If you purchased L & L Energy stock or options between August 3, 2011 and September 18, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/LLEN. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding L & L Energy's conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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