Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Linn Energy, LLC To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Linn Energy, LLC (“Linn” or the “Company”) (NASDAQ: LINE).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Linn: (i) conducted improper accounting in relation to its hedging strategy; (ii) overstated available cash flow for unit holder distribution; and (iii) made false and/or misleading statements and/or failed to disclose that its energy production was not growing, even though the Company had recorded large capital expenditures.
On July 1, 2013, Linn announced that the Securities and Exchange Commission had commenced an inquiry concerning, among other things, the Company’s use of non-GAAP financial measures and hedging strategy and its proposed merger with Berry Petroleum Company. Following this news, Linn’s stock price dropped $6.24 or over 18%.
If you invested in Linn’s stock, bonds or options between April 28, 2011 and July 1, 2013 and would like to discuss your legal rights, you can 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 Linn’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
369 Lexington Avenue 10th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.