SEATTLE, Oct. 6, 2014 /PRNewswire/ -- L&L Energy, Inc. (OTC LLEN) ("L&L" or the "Company"), today announced that it has agreed to settle the four pending derivative action lawsuits against it.
The parties in the lawsuits captioned Stouffer v. Lee, Case No. 11 0C 00352 1B (Nev. Jud. Dist. Ct. filed Nov. 4, 2011); Bessent v. Lee, Case No. 13-2-36158-2 KNT (Wash. Super. Ct. filed Oct. 23, 2013); Finklestein v. Lee, Case No. 2:13-cv-02197RSL (W.D. Wash. filed Dec. 9, 2013); and Giesbrecht v. Lee, Case No. 3:13-CV-00697-HDM-WGC (D. Nev. filed Dec. 20, 2013) (collectively the "Actions"), have agreed to settle the Actions on the terms and conditions set forth in a Stipulation of Settlement dated September 19, 2014 (the "Stipulation"). The Court will hold a Settlement Hearing on December 4, 2014 at 9:00 a.m., before the Honorable James T. Russell, District Court Judge of the First Judicial District Court of the State of Nevada, located at 885 East Musser Street, Department I, Carson City, Nevada 89701, to determine whether to approve the Settlement.
Current L&L Shareholders are instructed that they can access the Stipulation for inspection at the Clerk of the Court's Office for the First Judicial District Court for the State of Nevada in and for Carson City, 885 East Musser Street, Suite 3031, Carson City, Nevada 89701. A Notice of Pendency and Proposed Settlement of Shareholder Derivative Actions and the Stipulation can also be accessed for viewing and/or downloading at the websites of Robbins Arroyo LLP at www.robbinsarroyo.com/notices, Levi & Korsinsky LLP at www.zlk.com, Gainey McKenna & Egelston at www.gme-law.com, Harwood Feffer LLP at www.hfesq.com, and L&L at www.llenergyinc.com.
For further information, please refer to the above websites.
SOURCE L&L Energy
