On April 10, 2013, Magnum Hunter Resources Corporation (the "Company"), at the direction of the Audit Committee (the "Audit Committee") of the Company's Board of Directors (the "Board"), dismissed PricewaterhouseCoopers LLP ("PwC") as the Company's independent registered public accounting firm for the fiscal year ended December 31, 2012, effective immediately. PwC was engaged as the Company's independent registered public accounting firm on July 17, 2012. PwC has not completed an audit or issued an audit report on the Company's consolidated financial statements for the fiscal year ended December 31, 2012. The decision to dismiss PwC was unanimously approved by the Audit Committee on April 10, 2013, and such decision was unanimously ratified by the Board on April 13, 2013.
How long before we get delisted? This is crazy. Any auditor that takes over now is going to be ultra conservative because they will be under the microscope by the SEC. See you in the low 2's
"How long before we get delisted? " MHR has been giving an 15 day extension plus 5 days of grace . They have used them all up is my guess ? It is up to NYSE to make the next move ? Your guess is as good as mine on the delisting time frame . The SEC is something all together different ? Now if PWC makes a statement to the facts that some thing is wrong at MHR ( I don't think that will be the case ?) but if( and it is a huge IF) they do then it would be more than just a delisting a stake for MHR ? A "wells notice also might be in order by NYSE ???
looking at the new wire, this story was date stamped 10:03am EDT this morning. i dont recall seeing it until a little while ago, but i also hadnt gone into yahoo finance news for quite a while
OMG. This is why the stock is behaving so poorly. The 8K did not tell why they were fired. But it is never good to fire your accounting firm. It doesn't look like there were a lot of accounting issues that they differed, but you can't really tell. You did get the impression that Dividends on the preferred shares will not be paid until the yearly 10K is filed and that is why they are trading so badly. Not sure when they will hire a new firm and how long it will take to get the 10K. To me this is a dissaster.
This is going to leave a mark .Is there a doctor in the house .It was posted that PWC would not take any #$%$ from G.E. This has HealthSouth written all over it .Does anyone know if G.E. holds a pilot's license in His name ?TIA