Magnum Hunter Resources Corp.—Bankruptcy Filing
Magnum Hunter Resources Corp. Filed for Bankruptcy, Seeking Restructuring
Have you invested your hard-earned money in Magnum Hunter Resources Corp. an Irving, Texas- based independent exploration and production company engaged in the acquisition, development and production of natural gas, natural gas liquids and crude oil, primarily in the States of West Virginia and Ohio? If you invested through a brokerage firm or stockbroker, you may be entitled to compensation if the investment was unsuitable or investment risks were not adequately disclosed to you prior to the investment. You may contact us for a free, no-obligation evaluation of your legal options.
Magnum Hunter Resources Corp. has reportedly filed for bankruptcy as gas hits 14-year lows, according to a statement from Texas.
Magnum Hunter Resources Corp. recently stated that it has the support of a majority of its lenders for a turnaround plan, and holders of 75 percent of the company’s debt have agreed to support the restructuring, which calls for a $200 million loan to keep Magnum Hunter operating in bankruptcy, according to said statement.
Magnum Hunter Resources Corp. Seeking to Convert Its Equity in a New, Reorganized Company
Magnum Hunter Resources Corp. has reportedly engaged in a restructuring which may convert the company’s equity in a new, reorganized company, according to the aforementioned statement.
Energy sector stocks like Magnum Hunter Resources often contain high levels of investment risk and may not be suitable for all investors. Investment professionals recommending such investments without appropriate risk disclosures, or selling investments that are unsuitable for the investors’ risk profiles may be held liable.
Has your stockbroker made a recommendation that you purchase Magnum Hunter Resources? If so, you may be able to recover some of those losses against the brokerage firm he or she was registered with.
The Peiffer Wolf Securities Lawyers Often Assist Investors
The Peiffer Wolf securities lawyers often assist investors who lose money as a result of risky energy companies. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of risky energy companies are encouraged to contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140 or via email at firstname.lastname@example.org.