Glancy
Binkow & Goldberg LLP announces that all purchasers of Linn
Energy, LLC (“Linn Energy” or the “Company”) (NASDAQ:LINE) units
between February 24, 2011 and July 1, 2013, inclusive (the “Class
Period’), have until September 9, 2013 to file a motion to be appointed
as lead plaintiff in the shareholder lawsuit filed in the United States
District Court for the Southern District of Texas.
A COPY OF THE COMPLAINT
IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE
CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM
TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR
MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Linn Energy is an independent oil and natural gas company engaged in the
acquisition and development of oil and natural gas properties. In its
regulatory filings with the Securities and Exchange Commission, Linn
Energy states that to reduce its exposure to oil and natural-gas price
fluctuations and provide long-term cash flow predictability, Linn Energy
engages in certain hedging strategies on a significant portion of its
forecasted production. The Complaint alleges that throughout the Class
Period defendants issued materially false and misleading statements or
failed to disclose that: (1) the Company engaged in improper accounting
for its hedging strategy, which included failing to properly treat
certain hedging costs invested in derivatives as expenses; (2) by
improperly using non-GAAP financial measures to account for certain
derivatives, the Company was overstating its cash flow available for
distribution to unit holders; and (3) the Company's energy production
was not increasing, despite its heavy capital expenditures.
If you are a member of the Class described above you may move the Court
no later than September 9, 2013 to serve as lead plaintiff; however, you
must meet certain legal
requirements. To be a member of the Class you need not take any
action at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class.
To learn
more about this action or if you have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2013