L&L Energy forms committee to look at GeoInvesting allegations

|About: L&L Energy, Inc. (LLEN)|By:, SA News Editor

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.