This is false for a number of reasons. While LH (which stands for Leutinizing Hormone) is released by the anterior pituitary gland and can be present in both females and males, it play a more predominant role in females. Working closely with FSH (Follicle Stimulating Hormone) a surge in LH begins the process of ovulation and the development of the Corpeus Leuteum.
In Males it is used both for the production of sperm but to stimulate the production of testosterone.