PITTSBURGH, Aug. 19, 2013 /PRNewswire/ -- Notice is hereby given by the Law Office of Alfred G. Yates Jr., P.C. that a class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of LINN Energy, LLC ("LINN" or the "Company") (Nasdaq: LINE) units during the period between February 25, 2010 and July 3, 2013 (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than September 9, 2013. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Alfred G. Yates Jr., at 1-800-391-5164, toll free, or at yateslaw@aol.com by e-mail. Please visit http://yatesclassactionlaw.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges LINN and certain of its officers with violations of the Securities Exchange Act of 1934 for alleged material misrepresentations during the Class Period regarding the true risk associated with the Company's ability to continue to issue stable or increasing cash distributions.
On July 1, 2013, after the market closed, the Company issued a press release announcing that the Securities and Exchange Commission had commenced an informal inquiry and it "ha[d] requested the preservation of documents and communications that are potentially relevant to…. LINN's … use of non-GAAP measures and hedging strategy." In reaction to this news, LINN units fell $6.24 per unit, or nearly 19%, to close at $27.05 per unit on July 2, 2013. The next day, the price of LINN units fell an additional $4.26 per unit, or nearly 16%, to close at $22.79 per unit on July 3, 2013.
Plaintiff seeks to recover damages on behalf of all purchasers of LINN units during the Class Period (the "Class").
The firm is also investigating actions on behalf of shareholders for the following companies: Maidenform, Inc. (NYSE: MFB), Microsoft Corporation (Nasdaq: MSFT), Nash Finch Co. (Nasdaq: NAFC), Omnicom Group Inc. (NYSE: OMC), Saks Incorporated (NYSE: SKS), Sourcefire, Inc. (Nasdaq: FIRE), and Tower Group International, Ltd. (Nasdaq: TWGP).
If you are a shareholder of any of the above companies and wish learn more about any of the investigations or have any questions, please contact Alfred G. Yates Jr., Esquire at 1-800-391-5164, toll free, or at yateslaw@aol.com by e-mail. Please visit http://yatesclassactionlaw.com.
Contact:
Alfred G. Yates, Jr.
(412) 391-5164 or Toll Free: 1(800) 391-5164, fax (412) 471-1033
website: http://yatesclassactionlaw.com
email: yateslaw@aol.com
SOURCE Law Office of Alfred G. Yates Jr., P.C.