NEW YORK, Aug. 28, 2013 (GLOBE NEWSWIRE) -- Labaton Sucharow LLP reminds investors that it filed a class action lawsuit on August 19, 2013 in the U.S. District Court for the Southern District of New York. The lawsuit was filed on behalf of persons or entities who purchased the publicly-traded common stock of LinnCo, LLC ("LinnCo" or the "Company") (Nasdaq:LNCO) pursuant or otherwise traceable to the Company's October 12, 2012 initial public offering (the "IPO") and/or between October 12, 2012 and July 1, 2013, inclusive (the "Class Period").
The action charges LinnCo and certain of its officers and directors with violations of Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. The Complaint alleges that, in statements made throughout the Class Period, including in offering documents filed with the U.S. Securities and Exchange Commission (the "SEC") in connection with the Company's October 2012 IPO, LinnCo misrepresented its revenues, earnings, and distributable cash flow ("DCF"), thereby artificially inflating the price of LinnCo's stock. Our investigation into the case is ongoing.
If you are a member of this Class you can view a copy of the complaint and join this class action online at http://www.labaton.com/en/cases/Newly-Filed-Cases.cfm.
If you would like to consider serving as lead plaintiff or have any questions about the lawsuit, you may contact Michael W. Stocker, Esq. of Labaton Sucharow LLP, at (800) 321-0476 or (212) 907-0882, or via email at mstocker@labaton.com.
Labaton Sucharow LLP, with offices in New York, New York and Wilmington, Delaware, is one of the country's premier law firms representing institutional investors in class action and complex securities litigation, as well as consumers and businesses in class actions seeking to recover damages for anticompetitive practices. More information about Labaton Sucharow is available at www.labaton.com.