Linn Energy LLC (NASDAQ:LINE) is accused by Securities Attorney Hamilton Lindley


Dallas, Texas 07/18/2013 (Financialstrend) – Linn Energy LLC is an independent oil & natural gas company which engages in the acquirement and development of oil and natural gas properties in United States. The company acquired certain oil and natural gas belongings situated mainly in the Granite Wash of Texas and Oklahoma from Plains Exploration & Production Company on 15th December, 2011.

Linn Energy LLC is accused by Securities Attorney Hamilton Lindley of falsely overstating its accessible cash to unit holders by improper accounting for its hedging tactic. When the fact about the firm’s economic situation was revealed, Linn units slapped by 31% over two days. LINE investors are advised to read the joint proxy statement as it contains many important information. LINE was promoted by Goldman Sachs Group Inc. to a “buy” grade in a study note issued recently by Analysts Rating Network reports.

On 25th April, 2013 the company posted its quarterly earnings results and according to that the firm reported $0.16 earnings per share and the revenue was $369.10 million for the quarter. Previous year during the same quarter, the firm had posted $0.25 earnings per share. The revenue of the company for the quarter was up 4.2% on a year-over-year basis. According to the analyst’s expectation, Linn Energy LLC will post $1.10 EPS for the current financial year.

There has been a gain of 2.39% in the shares of Linn Energy LLC (NASDAQ:LINE) and currently trading at $28.16 per share. The stock had presented intraday fluctuations on the range of $27.50 – 28.20 per share, after opening at $27.68 for the day. The company had recorded 52 week low at $20.35 and 52 week high at $42.57 per share.

There are 235.07 million shares outstanding with a market cap of $6.61 billion and an institutional ownership of 18% of the total capital. The trading volume is 1.98 million shares and the average volume is at 6.33 million shares per day.

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