SOURCE: Gilman Law LLP

Gilman Law LLP

January 30, 2012 11:09 ET

Securities Law Firm Gilman Law LLP Reminds Shareholders of GMX Resources to Inquire About Securities Fraud Class Action Lawsuit Prior to February 3, 2012 Deadline

NAPLES, FL--(Marketwire - Jan 30, 2012) - Leading national securities law firm Gilman Law LLP announces GMX Resources Securities Fraud Lawsuit commenced in the US District Court for the Western District of Oklahoma (Case No.: 5:11-cv-00520-D) alleging violations of securities laws on behalf of common stock shareholders of GMX Resources ("GMX" or the "Company") (NYSE: GMXR) pursuant or traceable to the Company's stock offerings on or about July 17, 2008, May 13, 2009, and October 22, 2009 (collectively, the "Offerings"). GMX is a "pure play" independent oil and natural gas exploration and production company.

If you purchased or otherwise acquired the stock of GMX Resources (NYSE: GMXR) pursuant or traceable to the offering and either lost money on the transaction or still hold the shares, please contact the securities law firm of Gilman Law LLP by February 3, 2012 to discuss your rights to recovery of your losses or to obtain additional information. If you wish to join the GMX Resources class action securities fraud lawsuit, please view the GMX Resources Securities Fraud Lawsuit article or CALL TOLL FREE at (239) 221-8301.

The Complaint charges GMX with failing to disclose in connection with the Company's stock offerings on or about July 17, 2008, May 13, 2009, and/or October 22, 2009, that the Company had incorrectly accounted for certain impairment charges and deferred income taxes and that the Company lacked adequate internal and financial controls such that the Company's financial statements contained untrue statements, material omissions, and were not prepared in accordance with Generally Accepted Accounting Principles. According to the complaint, on March 11, 2010 the value of GMX shares declined significantly as a result of the Company disclosing that its full year 2008 and quarterly 2009 financial statements should no longer be relied upon and would need to be restated.

The securities law attorneys of Gilman Law have over 32 years of experience in securities law and have been involved in all major aspects of securities litigation. Gilman Law specializes in cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.

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