Defendant Name:
Magnum Hunter Resources Corporation
Defendant Type:
Public Company
Document Reference:
2016-48
Document Details
Legal Case Name
In the Matter of Magnum Hunter Resources Corporation
Document Name
SEC Charges Company and Executives for Faulty Evaluations of Internal Controls
Document Date
10-Mar-2016
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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.
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$250,000.00
Shared:
