SAN DIEGO, May 22, 2013 /PRNewswire/ -- Finkelstein & Krinsk LLP filed a class action securities lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Magnum Hunter Resources Corporation ("Magnum Hunter") (NYSE: MHR) common stock (the "Class") during the period of May 3, 2012 through April 16, 2013, inclusive (the "Class Period").
Magnum Hunter is an independent oil and gas company. On April 16, 2013, Magnum Hunter disclosed that it had dismissed its auditor, PricewaterhouseCoopers LLP ("PwC"), following it being advised of material weaknesses in the Company's internal accounting controls. PwC identified issues having a material impact on the fairness or reliability of Magnum Hunter's consolidated financial statements. Dissemination of this news to public investors caused Magnum Hunter shares to decline.
PwC disagreed with the Company's account of events and has stated that it advised the Company it had concluded that the fairness and reliability of the Company's consolidated financial statements were questionable.
Plaintiff seeks to recover damages on behalf of buyers of Magnum Hunter stock during the Class Period. Plaintiff is represented by Finkelstein & Krinsk LLP, the highly regarded and highly experienced law firm specializing in securities cases.
As a member of the Class described above, you may (by not later than June 24, 2013) move to serve as lead plaintiff for the Class. If you choose to do nothing you simply remain an absent class member with your sharing in a recovery unaffected by your decision. If you want to discuss this matter or represent your interests at no cost or through your attorney, please contact our San Diego office at 877.493.5366 (Michael Plavi), by fax to 619.238.5425, or via email at [email protected].
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SOURCE Finkelstein & Krinsk LLP