NEW YORK, April 25, 2013 (GLOBE NEWSWIRE) -- The following statement was issued today by Squitieri & Fearon, LLP.
Squitieri & Fearon, LLP announces that a class action has been filed in the United States District Court for the Southern District of Texas against Magnum Hunter Resources Corp. (NYSE:MHR) on behalf of investors who purchased the Company's securities during the period from May 3, 2012 through April 16, 2013 (the "Class Period").
The Complaint charges MHR and some of its officers and directors with making false and misleading statements as well as failing to disclose material adverse facts about the Company's business practices. On April 16, 2013 the Company disclosed that it had dismissed its auditor (PricewaterhouseCoopers LLP) after the auditor identified issues that could have a material impact on the fairness or reliability of MHR's financial statements. MHR's shares now trade at approximately $2.80 per share, which is far less than the prices that investors paid for their shares.
Squitieri & Fearon, LLP has significant experience prosecuting class actions on behalf of investors and shareholders.
If you wish to discuss your rights in connection with the MHR stock or have any questions concerning this notice or your rights or interest, please contact Stephen J. Fearon, Jr. of Squitieri & Fearon, LLP by email at stephen@sfclasslaw.com or by phone at (212) 421-6492. You can also review more information about this at the following web site: http://sfclasslaw.com/magnum-hunter-resources-corp-mhr-securities-fraud-class-action-investigation/.
Attorney advertising. Prior results do not guarantee future performance. Squitieri & Fearon has offices in New York but its attorneys practice in courts throughout the United States. In states in which Squitieri & Fearon attorneys are not licensed to practice, we have affiliations with licensed attorneys in those states in particular cases.