Defendant Name: Magnum Hunter Resources Corporation

Defendant Type: Public Company
SIC Code: 1311
CUSIP: 55973B10

Initial Case Details

Legal Case Name In the Matter of Magnum Hunter Resources Corporation
First Document Date 10-Mar-2016
Initial Filing Format Administrative Action
File Number 3-17166
Allegation Type Issuer Reporting and Disclosure
AAER 3756

Violations Alleged

Exchange Act
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Rule 13a-15
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 10-Mar-2016
Headline Total Penalty and Disgorgement $250,000

Related Documents:

34-77345 10-Mar-2016 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On March 10, 2016, the SEC instituted settled cease-and-desist proceedings against Magnum Hunter Resources Corporation ("MHR"). According to the SEC: "This proceeding concerns failures by MHR and its management to properly implement, maintain, and evaluate internal control over financial reporting ('ICFR') for the fiscal year-ended December 31, 2011 and to maintain ICFR sufficient to keep pace with MHR's growth from at least the fiscal year-ended December 31, 2011 through the quarter-ended September 30, 2013. MHR's failures resulted in part from Ronald D. Ormand ('Ormand') and David S. Krueger ('Krueger') improperly evaluating the severity of identified control deficiencies."
2016-48 10-Mar-2016 Press Release--Administrative Proceeding
SEC Charges Company and Executives for Faulty Evaluations of Internal Controls
On March 10, 2016, the SEC announced that it "settled charges against Texas-based oil company Magnum Hunter Resources Corporation and several individuals, including a company consultant, for deficient evaluation of the company's internal controls over financial reporting, and failures to maintain internal control over financial reporting between Dec. 31, 2011 and Sept. 30, 2013." The civil penalty against Magnum Hunter Resources Corporation is subject to bankruptcy court approval.

Related Actions:

In the Matter of Ronald D. Ormand
Ronald D. Ormand
In the Matter of David S. Krueger, CPA
David S. Krueger, CPA
In the Matter of Wayne Gray, CPA
Wayne Gray, CPA
In the Matter of Joseph R. Allred, CPA
Joseph R. Allred, CPA