SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

September 01, 2011 13:13 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased or Acquired Miller Energy Resources, Inc. Securities Between 3/22/10 and 8/1/11; Announces Investor Deadline (MILL)

DENVER, CO--(Marketwire - Sep 1, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Eastern District of Tennessee on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Miller Energy Resources, Inc. (the "Company") (NYSE: MILL) between March 22, 2010 and August 1, 2011, inclusive (the "Class Period").

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than October 11, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business. On July 28, 2011, TheStreetSweeper published an investigative report on Miller regarding its relationship with several financial firms, highlighting potential accounting problems. Specifically, the report questioned the Company's purchase of abandoned assets in Alaska for $4.5 million, later fixing the value of those assets at more than $350 million on its books. Then, on August 1, 2011, the Company filed a Form 8-K with the SEC disclosing that the Company would be issuing revised financial statements, particularly with respect to its statement of cash flows for the periods ended January 31, 2011, October 31, 2010 and July 31, 2010, pursuant to an investigation by the Company's Audit Committee. Based upon the foregoing, the complaint charges the Company and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com