NEW YORK, June 5, 2013 (GLOBE NEWSWIRE) -- The Rosen Law Firm reminds investors of the important June 24, 2013 lead plaintiff deadline in the class action filed on behalf of all purchasers of the securities of Magnum Hunter Resources Corporation (MHR, MHR-PD, MHR-PE, MHR-PC) between January 17, 2012 and April 22, 2013, (the "Class Period").
To join the Magnum Hunter class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The complaint alleges that Defendants concealed Magnum Hunter's true financial condition and material internal control weaknesses in its public statements to investors. The Complaint alleges that there were material weaknesses concerning: (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.
A class action lawsuit has already been filed on behalf of Magnum Hunter shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2013. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.