Have you suffered losses investing in Magnum Hunter Resources Corporation? If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that recommended the investment.
Magnum Hunter Resources Corporation is an independent oil and gas company engaged in the exploration for of crude oil, natural gas and natural gas liquids in the US and Canada. The company was founded in 1997 and is based in Irving, Texas.
According to a recent press release, Magnum Hunter is no longer in compliance with the NYSE’s continued listing standards for commons stock. Unfortunately, according to the release, the average closing prices for Magnum common stock was $0.99 per share, which falls short of the NYSE requirements. The NYSE rule require an average closing price of at least $1.00 for a consecutive 30 trading-day period.
Brokerage firms that sell oil and gas investments, like Magnum Hunter have a fiduciary duty to perform adequate due diligence to determine if the investment has a reasonable likelihood of success. Unfortunately, some brokers may have recommended Magnum Hunter to investors even though the investment was unsuitable for their clients. Investment recommendations should be inline with a client’s age, investment experience, net worth, and investment objectives. When brokers make inappropriate investment recommendations, both the broker and the firm may be liable for investment losses.
If you suffered losses investing in Magnum Hunter Resources Corporation and would like to speak to a securities attorney to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on the firm, visit www.WhiteSecuritiesLaw.com.