L&L Energy

Last updated
L&L Energy Inc.
Company type Public (OTC Pink: LLEN)
IndustryMetals and Mining
Founded1995
DefunctMarch 2, 2015
Headquarters Seattle, Washington, United States
Area served
People's Republic of China
Key people
Dickson V. Lee (CEO)
Clayton Fong (Vice President)
Ian G. Robinson (CFO)
Products Coal
ServicesCoal production

L&L Energy, Inc. was an American company headquartered in Seattle, Washington, in the business of producing, processing, and selling coal in the People's Republic of China.

As of 2011, the company was focused on acquiring small-scale coal mining operations in China, as well as supplies of American coal that it planned to process and sell in China. [1]

The company was de-listed from the NASDAQ in April 2014, shortly following the announcement of investigations of the company by the SEC and Department of Justice. [2] In 2015, the U.S. District Court sentenced the company to five years of probation, and CEO Dickson Lee to a five-year prison term for securities fraud. [3] [4] Lee was accused of misrepresenting the company's chief financial officer and internal controls in order to achieve a stock market listing, and of deceiving investors. [5]

Former U.S. Transportation Secretary Norman Mineta at one time served on the board of the company. [6]

Related Research Articles

<span class="mw-page-title-main">Cypress Semiconductor</span> Defunct American semiconductor company

Cypress Semiconductor was an American semiconductor design and manufacturing company. It offered NOR flash memories, F-RAM and SRAM Traveo microcontrollers, PSoC programmable system-on-chip solutions, analog and PMIC Power Management ICs, CapSense capacitive touch-sensing controllers, Wireless BLE Bluetooth Low-Energy and USB connectivity solutions.

<span class="mw-page-title-main">Maurice R. Greenberg</span> American business executive (born 1925)

Maurice Raymond “Hank” Greenberg is an American business executive and former chairman and chief executive officer of American International Group (AIG).

<span class="mw-page-title-main">Dynegy</span> Electricity company based in Houston, Texas

Dynegy Inc. is an electric company based in Houston, Texas. It owns and operates a number of power stations in the U.S., all of which are natural gas-fueled or coal-fueled. Dynegy was acquired by Vistra Corp on April 9, 2018. The company is located at 601 Travis Street in Downtown Houston. The company was founded in 1984 as Natural Gas Clearinghouse. It was originally an energy brokerage, buying and selling natural gas supplies. It changed its name to NGC Corporation in 1995 after entering the electrical power generation business.

<span class="mw-page-title-main">Don Blankenship</span> American business executive

Donald Leon Blankenship is an American business executive, political candidate, and convicted criminal. He was chairman and CEO of the Massey Energy Company—the sixth-largest coal company in the United States—from 2000 until 2010 when an explosion at Massey's Upper Big Branch Mine resulted in the death of 29 workers. He was imprisoned for 1 year for conspiring to violate federal mine safety standards.

Consol Energy Inc. is an American energy company with interests in coal headquartered in the suburb of Cecil Township, in the Southpointe complex, just outside Pittsburgh, Pennsylvania. In 2017, Consol formed two separate entities: CNX Resources Corporation and CONSOL Energy Inc. While CNX Resources Corp. focuses on natural gas, spin-off Consol Mining Corporation, now Consol Energy Inc. focuses on coal. In 2010, Consol was the leading producer of high-BTU bituminous coal in the United States and the U.S.'s largest underground coal mining company. The company employs more than 1,600 people.

Suntech Power Holdings Co., Ltd. is a Chinese producer of solar panels, with 2,000 MW (2,700,000 hp) of annual production capacity by the end of 2011. It is headquartered in Wuxi, Jiangsu. Shunfeng International Clean Energy Limited, a HKSE listed renewable energy investment and Independent Power Producer company, acquired Suntech in 2014 following Suntech's bankruptcy in 2013. With offices or production facilities in every major market, Suntech has delivered more than 13,000,000 solar panels to thousands of companies in more than 80 countries around the world. As the center for the company's global operations, Suntech headquarters, in Wuxi, China, features the world's largest building integrated solar facade.

<span class="mw-page-title-main">Kobi Alexander</span> Israeli-American businessman

Jacob "Kobi" Alexander is an Israeli-American businessman. He is the founder and the former CEO of New York-based Comverse Technology. In 2006, he was charged with multiple counts of fraud and related offenses pertaining to irregularities in trading of Comverse stock; he subsequently fled to Namibia, a nation which has no extradition treaty with the US.

China Shenhua Energy Company Limited, also known as Shenhua, China Shenhua, or Shenhua Energy, is the largest state-owned coal mining enterprise in Mainland China, and in the world. It is a subsidiary of Shenhua Group. It mines, refines, and sells coal, and generates and sells electric power in the People's Republic of China. It operates coal mines as well as an integrated railway network and a seaport that are primarily used to transport its coal. It also operates power plants in the PRC which are engaged in the generation and sales of coal-based power to provincial and regional electric companies. In the 2020 Forbes Global 2000, China Shenhua Energy was ranked as the 168th -largest public company in the world.

Arch Resources, previously known as Arch Coal, is an American coal mining and processing company. The company mines, processes, and markets bituminous and sub-bituminous coal with low sulfur content in the United States. Arch Resources is the second-largest supplier of coal in the United States, behind Peabody Energy. As of 2011 the company supplied 15% of the domestic market. Demand comes mainly from generators of electricity.

N-Shares refers to Chinese companies listed on the NYSE, NASDAQ, or the NYSE MKT. The term stands for New York. They may or may not be incorporated in China, but they have their main business operations in mainland China. Most of them are incorporated in Bermuda, the Cayman Islands, the British Virgin Islands, Nevada or Delaware. If they have been incorporated in mainland China, they trade as ADRs of H Shares. If they have been incorporated in Hong Kong, they trade as ADRs of Red chips. If they have been incorporated in Nevada, Delaware or Florida, they might have originated as reverse mergers. Most N-Shares are the American exchange equivalent of P-Chips.

<span class="mw-page-title-main">Vitacost</span>

Vitacost.com, Inc. is an American e-commerce company based in Boca Raton, Florida, that sells vitamins, supplements and organic grocery products. The company was bought by Kroger in 2014. Vitacost was inducted into Inc Magazine's "Inc. 500 Lifetime Hall of Fame," in 2006 as one of the US's 500 fastest-growing privately held businesses for five consecutive years (2001–2005).

Piksel is a professional service and technology provider to the broadcast and media industries.

Eneva is a power generation company based in Rio de Janeiro, Brazil. It is listed at the São Paulo exchange.

Molycorp Inc. was an American mining corporation headquartered in Greenwood Village, Colorado. The corporation, which was formerly traded on the New York Stock Exchange, owned the Mountain Pass rare earth mine in California. It filed for bankruptcy in June 2015 after changing competitive circumstances, declining prices on output and a 2014 restructuring. It was purchased by its largest creditor Oaktree Capital Management and was reorganized as Neo Performance Materials.

Cvent Holding Corp. is a software-as-a-service (SaaS) company based in Tysons Corner, Virginia, that specializes in meetings, events, and hospitality management technology by offering web-based software for in-person, virtual, and hybrid events, including online event registration, venue selection, event marketing and management, virtual and onsite, and attendee engagement. Cvent also offers software for hotels and venues to manage group and corporate travel business, and attract group business through its sourcing platforms. Previously public, Cvent was taken private by investment firm Blackstone Inc. for $4.6 billion in June 2023.

<span class="mw-page-title-main">ViSalus</span> American multi-level marketing company

Vi is an American multilevel marketing (MLM) company based in Los Angeles, California, with offices in downtown Detroit, Michigan. The company is mostly known for the Body by Vi 90-Day Challenge platform. The company markets weight management nutritional products, dietary supplements and energy drinks in the United States, Canada, Italy and United Kingdom. Weight management products, including Vi-Shape meal replacement shake and Vi-Trim Clear Control Drink Mix, form the bulk of the company's sales.

<span class="mw-page-title-main">Muddy Waters Research</span> American stock market research company and investment firm

Muddy Waters Research LLC is an American privately held due diligence based investment firm that conducts investigative research on public companies while also taking investment positions that reflect their research. It has exposed accounting problems and fraud at several companies, primarily in China but also in other countries in Asia, Europe and North America.

<span class="mw-page-title-main">Infonautics</span> Information services company

Infonautics was an information services company, founded in 1992 by Marvin Weinberger, Lawrence Husick, and Josh Kopelman, and had its headquarters in Wayne, Pennsylvania, United States. It was a spin-out from Telebase, Inc., which retained a minority position in the company. The company's executives included Van Morris (CEO), Ram Mohan (COO/CTO), Frederica O'Brien (CFO), and Gerard Lewis. Israel J. Melman was also a co-founder, a mentor to Marvin Weinberger and served on the boards of both Telebase and Infonautics, where he was also Chairman of the Board.

<span class="mw-page-title-main">China Hongqiao Group</span> Chinese company specializing in producing aluminum

China Hongqiao Group Limited is a company founded in 1994 that specializes in the production of aluminium. Hongqiao is currently the second largest aluminium producer in the world after Chinalco. It is listed on the Hong Kong Stock Exchange with stock code 1378, and is incorporated in George Town, Cayman Islands.

Hindenburg Research LLC is a U.S. investment research firm with a focus on activist short-selling founded by Nathan Anderson in 2017. Named after the 1937 Hindenburg disaster, which they characterize as a human-made avoidable disaster, the firm generates public reports via its website that allege corporate fraud and malfeasance. Companies that have been the subjects of their reports include Adani Group, Nikola, Clover Health, Block, Inc., Kandi, and Lordstown Motors. These reports also feature defenses of the practice of short-selling and explanations of how short-sells can "play a critical role in exposing fraud and protecting investors."

References

  1. Barker, Christopher (2011-06-16). "Under the Microscope in China: L&L Energy". www.fool.com. Retrieved 2016-07-29.
  2. Inc., L & L Energy. "L&L Energy to Voluntarily Delist from the NASDAQ Stock Exchange". www.prnewswire.com. Retrieved 2016-07-29.{{cite web}}: |last= has generic name (help)
  3. "Company profile". L&L Energy. Archived from the original on 22 June 2008. Retrieved 4 March 2013.
  4. "L&L Energy buys majority stake in Chinese coal mine. L&L Energy founder gets 5 years in U.S. prison for fraud". Mining.com. 2012-06-18. Retrieved 4 March 2013.
  5. "Coal company L&L Energy founder gets 5 years in U.S. prison for fraud". Reuters. 2015-02-20. Retrieved 2016-07-29.
  6. Greenberg, Herb (2010-12-21). "Greenberg: Dangers Lurk in Chinese Reverse Mergers". CNBC . Retrieved 2016-07-29.

FBI request