San Diego, CA -- (SBWIRE) -- 04/23/2013 -- An investigation on behalf of investors of Magnum Hunter Resources Corp (NYSE:MHR) shares over potential securities laws violations by Magnum Hunter Resources Corp and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Magnum Hunter Resources Corp (NYSE:MHR), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Magnum Hunter Resources Corp (NYSE:MHR) concerning whether a series of statements by Magnum Hunter Resources Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Magnum Hunter Resources Corp reported that its annual Total Revenue rose from $6.61 million in 2009 to $129.18 million in 2011. However, its Net Loss increased from $15.12 million in 2009 to $76.66 million in 2011.

Shares of Magnum Hunter Resources Corp (NYSE:MHR) traded in 2011 as high as $8.56 per share and in early 2012 as high as $7.53, but declined to as low as $3.44 per share in November 2012.

Then on April 16, 2012, Magnum Hunter Resources Corp provided its First Quarter 2013 Company Wide Operational Update. The same day Magnum Hunter Resources Corp disclosed in a filing with the SEC that on April 10, 2013, Magnum Hunter Resources Corporation at the direction of the Audit Committee of Magnum Hunter Resources’ Board of Directors dismissed PricewaterhouseCoopers LLP as Magnum Hunter Resources’ independent registered public accounting firm for the fiscal year ended December 31, 2012, effective immediately.

Shares of Magnum Hunter Resources Corp (NYSE:MHR) declined from $4.00 per share on April 9, 2013, to as low as $2.43 per share on April 17, 2013.

On April 22, 2013, NYSE:MHR shares closed at $2.50 per share which is less than half its current 52 week High of $6.45 per share.

Those who purchased shares of Magnum Hunter Resources Corp (NYSE:MHR), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com