Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Chinese coal miner L&L Energy (Nasdaq: LLEN) dove as much as 14% in intraday trading after CNBC commentator Herb Greenberg took the company to task.

So what: I almost feel sorry for L&L. It's as if Greenberg came up out of the blue, tapped it on the shoulder, and -- bam! -- unloaded a two-ton haymaker on the company. Inspired by the announcement that the SEC is investigating accounting statements from small Chinese companies that entered U.S. markets through reverse mergers, Greenberg reiterated his concern about the group and dug into L&L as an example of why he's so cautious. While Greenberg didn't get into the numbers, he did have some pretty icky details on the folks running the business.

Now what: Should this attack really bring down the stock? Theoretically, no; Greenberg simply presented facts that were already available to the public and shouldn't be a big surprise to L&L shareholders. But in reality, there were probably plenty of shareholders that hadn't adequately dug into filings to get to this information. Between the debacle at Rino International, as well as lingering questions at Orient Paper (NYSE: ONP) and CNinsure (Nasdaq: CISG), there is already plenty of skepticism out there for small Chinese companies. For that reason, L&L would probably serve its shareholders best by not letting this fresh wound fester and instead quickly address the concerns raised by Greenberg. As far as investors go, if you didn't already know about management's backgrounds, now may be a great time to take a closer look.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.