This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
The law firm of Wohl & Fruchter LLP announces that it is investigating possible violations of federal securities laws by officers and directors of Linn Energy, LLC (Linn) (NASDAQ: LINE).
On July 1, 2013, Linn announced that it is being investigated by the Securities and Exchange Commission (SEC) in connection with the Company’s use of non-GAAP financial measures, its hedging strategies, and its proposed acquisition of Berry Petroleum Company jointly with its affiliate, Linn Co, LLC.
Previously, Barron’s and Kevin Kaiser, a senior analyst with HedgeEye Risk Management, had argued that Linn was using non-GAAP accounting to mask considerable weakness in its cash flows, which called into question the sustainability of its dividend. They also questioned Linn’s accounting for its derivative contracts by, for example, excluding the cost of its puts from its cash flow, while including the gains.
After the announcement of the SEC probe, LINE units declined over 18% from a close of $33.29/unit on July 1, 2013, to $27.05/unit as of the close on July 2, 2013.
Persons with relevant information, and LINE unitholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.582.8140.
Additional information is available on our website at:
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website,
www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.