1 June 2006listing compliance notice▼ BadMajor
A second Nasdaq deficiency notice followed, now for a delinquent Q1 2006 10-Q on top of the unresolved restatement; Linn scheduled a Nasdaq hearing and expected to be caught up by June 30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 May 2006late filing notice▼ Bad
Pressburg, LLC notified the SEC that its quarterly report would be filed late.
20 Apr 2006listing compliance notice▼ BadMajor
Nasdaq warned it could delist Linn Energy's units over the still-unfiled 2005 10-K stemming from the restatement; the company said it would appeal and did not expect a material earnings impact.
18 Apr 2006material agreement● Neutral
Hired Thomas Lopus as SVP of Operations under a standard executive pay package with unit options -- routine personnel move.
17 Apr 2006director interest notice● Neutral
Pressburg, LLC SVP - Operations Thomas A Lopus received 20,000 shares and a 75,000-share option grant as part of the equity award.
13 Apr 2006debt financing● Neutral
Replaced its original $300 million credit facility with a new agreement, the first step in building the large secured revolver that would fund the coming acquisition spree.
3 Apr 2006late filing notice▼ Bad
Pressburg, LLC notified the SEC that its annual report would be filed late.
3 Apr 2006listing compliance notice▼ BadMajor
Linn Energy's audit committee concluded its 2003-2004 financial statements needed restatement over acquisition-accounting errors, forcing a delayed 2005 annual report and a heads-up to Nasdaq about noncompliance just months after going public.
21 Mar 2006director interest notice● Neutral
Pressburg, LLC director George A Alcorn bought 2,000 shares on the open market at $20.80.