NEW YORK, July 23, Jul 23, 2013 LawFuel.com – Class Action Law Firm Newswire — The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of LinnCo, LLC LNCO -0.69% stock in or traceable to LinnCo’s IPO on October 12, 2012 through July 1, 2013, inclusive, seeking to recover damages for violations of the federal securities laws.
To join the LinnCo class action, visit the firm’s website at http://www.rosenlegal.com, or call Phillip Kim, Esq. or Kevin Chan, toll-free, at 866-767-3653; you may also email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the suit, LinnCo’s Registration Statement issued in connection with the IPO was false and misleading and failed to disclose materially adverse facts concerning, among other things, Linn Energy’s ability to maintain or increase distributions to LinnCo and other unit holders. In particular, the lawsuit alleges that certain non-GAAP metrics highlighted in the Registration Statement, such as Adjusted EBITDA, Distribution Coverage Ratio and Distributable Cash Flow, were not accurate or reliable measures of Linn Energy’s ability to make distributions. When these adverse facts entered the market, the value of LinnCo’s shares dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 9, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
