Defendant Name:
Magnum Hunter Resources Corporation
Defendant Type:
Public Company
SIC Code:
1311
CUSIP:
55973B10
Document Reference:
34-77345
Document Details
Legal Case Name
In the Matter of Magnum Hunter Resources Corporation
Document Name
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
Document Date
10-Mar-2016
Document Format
Administrative Proceeding
AAER
3756
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$250,000.00
Shared:
