L&L Energy, Inc. Under Investor Investigation Over Possible Violations Of Securities Laws

If you purchased shares of L&L Energy, Inc. (NASDAQ:LLEN), you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
L&L Energy
Affected Securities: 

San Diego, Aug 05, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of L&L Energy, Inc. (NASDAQ: LLEN) over possible Violations of Securities Laws by L&L Energy Inc and others was announced.

The investigation by a law firm focuses on possible L&L Energy shareholder claims based on potential violations of the federal securities laws. Specifically the investigation concerns whether L&L Energy, Inc. or others may have violated securities laws by issuing a series of statements regarding its business, its prospects and its operations that were materially false and misleading at the time they were made.

L&L Energy, Inc. reported a substantial increase in its 12months Total Revenue from $23.38million reported on April 30, 2008 to $223.85million reported on April 30, 2011. It reported that its Net Income over the same time frame rose from $0.97million to $36.78million.

Shares of L&L Energy, Inc. traded during April 2010 as high as $14.01 per share.

However NASDAQ: LLEN fell on Thursday, August 4, 2011, to as low as $3.49 after Glaucus Research Group on August 2, 2011 issued a report alleging that L & L Energy had overstated its revenues, and net income. In addition, Glaucus Research Group said that Chinese state filings show that L & L Energy does not own legal title to certain operating subsidiaries contrary to L & L Energy's prior representations. Glaucus Research Group cited China state administrative filings in support of its allegations.
On August 5, 2011, L & L Energy, Inc., (Nasdaq: LLEN) issued a statement refuting the allegations made by Glaucus Research Group.