Magnum d'Or Resources, Inc. (fka MDOR)

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Finkelstein Thompson LLP Announces Investigation of Magnum d'Or Resources Inc.

http://ih.advfn.com/p.php?pid=nmona&article=48499799&symbol=MDOR

Finkelstein Thompson LLP announces that it is investigating potential claims on behalf of shareholders of Magnum d'Or Resources Inc. (“Magnum” or the “Company”) (Pink Sheets: MDOR).

Magnum is a company engaged in the tire recycling industry. According to a recently-filed class action complaint, from July 2, 2008 to April 13, 2010, the Company made misleading and false statements to the investing public by telling investors, among other things, that the Company had $130 million in contracts for its products, and had secured $15 million in financing. The complaint also alleges that the Company failed to disclose the existence of an SEC Formal Order of Investigation into the Company to investors and its own outside auditors.

In Magnum’s Form 8K issued on April 16, 2010, the Company revealed that it had received a written notice dated April 13, 2010 from its previous independent certified public accountants, Weinberg & Company, P.A. (“W&C”), that W&C had withdrawn its audit opinions related to the Company’s financial statements for the fiscal years ended 2009 and 2008 which were included within the Company’s Form 10-K filed with the SEC on January 13, 2010 and February 12, 2009. Moreover, according to the Form 8K, W&C advised the Company that its audit reports dated January 5, 2010 and February 6, 2009, could not be relied upon because of an SEC issuance of a Formal Order of Investigation dated October 30, 2009 that should have been included in W&C’s audit report but which was not provided to W&C until April 7, 2010. After this news was revealed, the Company’s stock fell from a closing price of $0.45 on April 13, 2010 to $0.31 on April 14 on unusually heavy trading volumes.

If you are interested in discussing your rights as a Magnum shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at [phone] or by email at [e-mail]. Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers.

To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.