Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Magnum Hunter Resources Corporation (“Magnum Hunter” or the “Company”) (NYSE: MHR) stock between January 17, 2012 through April 22, 2013.
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The complaint alleges that during the Class Period, Magnum Hunter made false and/or misleading statements and/or failed to disclose: (a) that the Company had material weaknesses in its valuation of its oil and gas properties, its calculation of oil and gas reserves, and in its position with respect to certain tax matters, the Company’s accounting of its acquisition of NGAS Resources, Inc., and the Company’s compliance with certain debt covenants; (b) that, as a result, Magnum Hunter lacked adequate internal and financial controls; and (c) that as a result of the aforementioned, the Company’s financial statements were materially false and misleading at all relevant times.
If you suffered a loss in Magnum Hunter you have until June 24, 2013
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at
or by telephone at (877) 363-5972, or visit
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. Attorney advertising. Prior results do not guarantee similar outcomes.