This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Magnum Hunter Resources Corporation To Contact The Firm

NEW YORK, May 3, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Magnum Hunter Resources Corporation ("Magnum Hunter" or the "Company") (NYSE: MHR, MHR-PD, MHR-PE, MHR-PC).

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )

The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that:  (1) PricewaterhouseCoopers LLP ("PwC") had identified serious issues relating to Magnum Hunter's internal accounting controls; (2) Magnum Hunter's oil and gas properties were not appropriately valued; (3) there were issues relating to the calculation of the Company's oil and gas reserves; (4) the Company may have been violating tax regulations; (5) the Company had improperly accounted for its acquisition of NGAS Resources, Inc.; and (6) Magnum Hunter was in non-compliance with certain of its debt covenants.

On April 16, 2013, Magnum Hunter disclosed that it had dismissed its outside auditor, PricewaterhouseCoopers LLP ("PwC").

Then on April 22, 2013, Magnum Hunter disclosed that PwC disagreed with the Company's account of their parting, disclosing a letter from PwC stating that PwC had advised the Company it had received information concluding that the fairness and reliability of the Company's consolidated financial statements were questionable. This issue was not resolved to PwC's satisfaction prior to its dismissal.

Request more information now by clicking here:  www.faruqilaw.com/MAGNUMHUNTER. There is no cost or obligation to you.

Take Action

If you invested in Magnum Hunter stock or options between January 17, 2012 and April 22, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/MAGNUMHUNTER.  You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Magnum Hunter's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com).  Prior results do not guarantee or predict a similar outcome with respect to any future matter.  We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential manner.FARUQI & FARUQI, LLP369 Lexington Avenue, 10th Floor New York, NY 10017Attn:  Richard Gonnello, Esq. rgonnello@faruqilaw.com Francis McConville, Esq. fmcconville@faruqilaw.comTelephone: (877) 247-4292 or (212) 983-9330

SOURCE Faruqi & Faruqi, LLP

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs