NEW YORK, Aug. 13, 2011 (GLOBE NEWSWIRE) — The Rosen Law Firm, P.A. today announced a class action lawsuit has been filed on behalf of investors who purchased the common stock of Miller Energy Resources, Inc. (“Miller” or the “Company”) (NYSE:MILL) during the period from March 15, 2010 through August 1, 2011 (the “Class Period”), seeking to recover investors’ damages from violations of federal securities laws.
To join the Miller class action, visit the Rosen Law Firm’s website at http://www.rosenlegal.com, or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email jhorne@rosenlegal.com for information on the class action. The case is pending in the U.S. District Court for the Eastern District of Tennessee.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint alleges violations of the Securities Exchange Act against Miller, its Chief Executive Officer, Scott Boruff and CFO Paul Boyd.�The Complaint alleges that the Company overstated the value of assets it purchased in a bankruptcy sale by over 1,000%, and that the Company falsely claimed it had obtained the approval of its registered independent accountant, KPMG, for this valuation.
On July 28, 2011, analysts Melissa Davis and Janice Shell issued a report questioning the valuation.�The report revealed that the assets had been on the market for a year, and that industry experts found the valuation incredible.�On July 29, 2011, Miller issued an annual report on Form 10-K, purporting to rebut the claims, and purporting to include an unqualified audit letter from KPMG.�On August 1, 2011, Miller issued a current report on Form 8-K saying that the July 29 10-K should no longer be relied upon because, among other things, KPMG had not completed its audit.���
Disclosure that its financial statements can no longer be relied on caused Miller’s stock price to drop, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than October 11, 2011. �A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.�If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at jhorne@rosenlegal.com.�You may also visit the firm’s website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising.�Prior results do not guarantee a similar outcome.
CONTACT: Jonathan Horne, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue, 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 797-4425
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
jhorne@rosenlegal.com
www.rosenlegal.com
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