SEATTLE, Oct. 6, 2014 /PRNewswire/ -- L&L Energy, Inc.
(OTC LLEN) ("L&L" or the "Company"), today announced that it
has agreed to settle the four pending derivative action lawsuits
against it.
The parties in the lawsuits captioned Stouffer v. Lee, Case No.
11 0C 00352 1B (Nev. Jud. Dist. Ct. filed Nov. 4, 2011); Bessent v. Lee, Case No.
13-2-36158-2 KNT (Wash. Super. Ct. filed Oct. 23, 2013); Finklestein v. Lee, Case No.
2:13-cv-02197RSL (W.D. Wash. filed
Dec. 9, 2013); and Giesbrecht v. Lee,
Case No. 3:13-CV-00697-HDM-WGC (D. Nev. filed Dec. 20, 2013) (collectively the "Actions"), have
agreed to settle the Actions on the terms and conditions set forth
in a Stipulation of Settlement dated September 19, 2014 (the "Stipulation"). The
Court will hold a Settlement Hearing on December 4, 2014 at 9:00
a.m., before the Honorable James T. Russell, District Court
Judge of the First Judicial District Court of the State of Nevada, located at 885 East Musser
Street, Department I, Carson City,
Nevada 89701, to determine whether to approve the
Settlement.
Current L&L Shareholders are instructed that they can access
the Stipulation for inspection at the Clerk of the Court's Office
for the First Judicial District Court for the State of Nevada in and for Carson City, 885 East Musser Street, Suite
3031, Carson City, Nevada
89701. A Notice of Pendency and Proposed Settlement of
Shareholder Derivative Actions and the Stipulation can also be
accessed for viewing and/or downloading at the websites of Robbins
Arroyo LLP at www.robbinsarroyo.com/notices, Levi & Korsinsky
LLP at www.zlk.com, Gainey McKenna
& Egelston at www.gme-law.com, Harwood Feffer LLP at
www.hfesq.com, and L&L at www.llenergyinc.com.
For further information, please refer to the above websites.
SOURCE L&L Energy