Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Magnum Hunter Resources Corporation
LOS ANGELES--(BUSINESS WIRE)-- Glancy Binkow & Goldberg LLP announces that all purchasers of the securities of Magnum Hunter Resources Corporation ("Magnum Hunter" or the "Company") (NYS: MHR) between May 3, 2012, and April 16, 2013 (the "Class Period') have until June 24, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York. Investors who have losses of $100,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
On April 16, 2013, Magnum Hunter disclosed that at the direction of the Audit Committee of the Company's Board of Directors Magnum Hunter had dismissed its auditor, PricewaterhouseCoopers LLP ("PwC"), after PwC advised the Company of material weaknesses in the Company's internal accounting controls. PwC identified certain issues that may have a material impact on the fairness or reliability of Magnum Hunter's consolidated financial statements, including: (1) valuation of the Company's oil and gas properties; (2) calculation of the Company's oil and gas reserves; (3) the Company's position with respect to certain tax matters; (4) the Company's accounting of its acquisition of NGAS Resources, Inc.; and (5) the Company's compliance with certain debt covenants.
If you are a member of the Class described above, you may move the Court to serve as lead plaintiff no later than June 24, 2013; however, you must meet certain legal requirements.
To learn more about this action or if you purchased Magnum Hunter stock prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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