Magnum d'Or Resources Inc MDOR Securities Stock Fraud

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Company: Magnum d'Or Resources Inc
Ticker Symbol: MDOR
Class Period: Jul-2-08 to Apr-13-10
Date Filed: Jul-18-11
Lead Plaintiff Deadline: Sep-16-11
Court: Southern District of Florida
New York, NY: A securities class action lawsuit has been filed in the United States District Court for the Southern District of Florida, case number 11-cv-61591, against Magnum d'Or Resources Inc. ("Magnum") (pinksheets:MDOR). The action is brought on behalf of purchasers of Magnum stock between July 2, 2008 and April 13, 2010, inclusive (the "Class Period"). The Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act, 15 U.S.C. Sections 78j(b) and 78t(a); and SEC Rule 10b-5 promulgated thereunder, 17 C.F.R. Section 240.10b-5.

The Complaint alleges that Magnum made false statements to the marketplace about its growth and operations, including falsely claiming that it had $130 million in contracts and $15 million in financing. This positive news, according to the Complaint, pushed Magnum's stock price up artificially, allowing insiders to carry out an illegal kickback scheme using Magnum's own stock. On April 29, 2011, according to the Complaint, the SEC filed civil charges against Magnum and several individuals involved in the scheme.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Magnum d'Or Resources Inc MDOR Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Magnum d'Or Resources Inc securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

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