NEW YORK, April 18, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of purchasers of Magnum Hunter Resources Corporation ("MHR" or the "Company") (NYSE: MHR) securities concerning possible violations of securities laws.
For more information, click here: http://zlk.9nl.com/magnum-hunter-resources-mhr/.
On April 16, 2013, MHR disclosed that it had dismissed its auditor, PricewaterhouseCoopers LLP ("PwC"), after PwC discovered information that "may have a material impact on the fairness or reliability of the company's consolidated financial statements." The issues identified by PwC included: (a) valuation of the Company's oil and gas properties; (b) calculation of the Company's oil and gas reserves; (c) the Company's position with respect to certain tax matters; (d) the Company's accounting of its acquisition of NGAS Resources, Inc.; and (e) the Company's compliance with certain debt covenants.
On April 17, 2013, following this news, shares of MHR fell over 14% to close at $2.83 a share.
If you own MHR stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/magnum-hunter-resources-mhr/.
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. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP