L&L Energy To Review Allegations By GeoInvesting Blog - Quick Facts

(RTTNews) - L&L Energy Inc. (LLEN) announced it has formed a special independent committee to conduct a review the short seller allegations made by the GeoInvesting blog. The special committee is chaired by Mohan Datwani, Chair of the Audit Committee and independent director. Three other Independent Directors have also been appointed to the special committee.

The company said its committee intends to make the appropriate disclosures to shareholders promptly upon completion of the review. The special committee will instruct the company on further legal matters.

GeoInvesting blog, earlier stated that, it is preparing to file a whistle-blower report to the NASDAQ and SEC that will accuse L&L Energy of defrauding investors by booking substantial revenue from operations that have been idled for quite some time.