Levi & Korsinsky, LLP is investigating potential securities fraud claims against GMX Resources, Inc. (“GMXR” or the “Company”) (NYSE: GMXR) resulting from the revelation that the Company may have issued materially false and misleading statements to shareholders regarding the Company’s financial condition.
On March 11, 2010, the Company disclosed that its 2008 and 2009 financial statements were inaccurate and would be restated. GMX subsequently restated its financial statements to correct for the method used to record full cost pool impairment charges and related deferred income taxes. As a result of the restatement, the company's net loss for fiscal year 2008 was $124.6 million as compared to the originally reported $81.7 million. The GMXR share price has declined substantially since the initial restatement disclosure and shareholders have suffered significant damages.
If you purchased GMXR securities and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/gmx-resources-gmxr.html.
Levi & Korsinsky, LLP represents investors in shareholder’s rights claims, concentrating its practice in securities class actions. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.