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.