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SHAREHOLDER ALERT: The Law Firm Of Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By Magnum Hunter Resources Corporation

Stocks in this article: MHR

NEW YORK, April 18, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of purchasers of Magnum Hunter Resources Corporation ("MHR" or the "Company") (NYSE: MHR) securities concerning possible violations of securities laws.

(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO)

For more information, click here: http://zlk.9nl.com/magnum-hunter-resources-mhr/ .

On April 16, 2013, MHR disclosed that it had dismissed its auditor, PricewaterhouseCoopers LLP ("PwC"), after PwC discovered information that "may have a material impact on the fairness or reliability of the company's consolidated financial statements." The issues identified by PwC included: (a) valuation of the Company's oil and gas properties; (b) calculation of the Company's oil and gas reserves; (c) the Company's position with respect to certain tax matters; (d) the Company's accounting of its acquisition of NGAS Resources, Inc.; and (e) the Company's compliance with certain debt covenants.

On April 17, 2013, following this news, shares of MHR fell over 14% to close at $2.83 a share.

If you own MHR stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/magnum-hunter-resources-mhr/ .

Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C.  The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits.  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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:    Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004            Tel: (212) 363-7500Toll Free:  (877) 363-5972Fax: (866) 367-6510 www.zlk.com

SOURCE Levi & Korsinsky, LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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