- L&L Energy (LLEN) says it is forming an independent committee to examine allegations made yesterday by GeoInvesting which sent shares plunging 38%.
- GeoInvesting said LLEN has defrauded investors by booking revenue from idled operations, and the company's acquisitions and sales of various properties amounts to "a bait and switch game."
- LLEN says the blogger "has made false and misleading statements about the company in the past, while admitting they were actively shorting our stock."
- LLEN +0.8% premarket.
at MarketWatch.com (Apr 12, 2011)