Glancy Binkow & Goldberg LLP Announces Investigation of Magnum Hunter Resources Corporation

  Glancy Binkow & Goldberg LLP Announces Investigation of Magnum Hunter
  Resources Corporation

Business Wire

LOS ANGELES -- April 19, 2013

Glancy Binkow & Goldberg LLP announces that it is investigating potential
claims on behalf of investors of Magnum Hunter Resources Corporation (“MHRC”
or the “Company”) (NYSE:MHR) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by MHRC misrepresented the Company’s operations and
financial performance and prospects. MHRC is an independent oil and gas
company that engages in the acquisition, exploration, exploitation,
development and production of crude oil, natural gas and natural gas liquids
primarily in West Virginia, Ohio, Texas, Kentucky, North Dakota and
Saskatchewan, Canada.

On April 16, 2013, MHRC disclosed that at the direction of the Audit Committee
of the Company's Board of Directors MHRC had dismissed its auditor,
PricewaterhouseCoopers LLP (“PwC”), after PwC advised the Company of material
weaknesses in the Company’s internal accounting controls. PwC identified
certain issues that may have a material impact on the fairness or reliability
of MHRC’s consolidated financial statements, including: (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.

As a result of this news, MHRC shares declined nearly 15%, or $0.49 per share,
to close at $2.83 per share on April 17, 2013 on heavy trading volume.

If you purchased MHRC shares before April 17, 2013, if you have information or
would like to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Michael Goldberg,
Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100,
Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at
(888) 773-9224, by e-mail to shareholders@glancylaw.com, or visit our website
at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contact:

Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
(310) 201-9150 or (888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com
 
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