A class action has been filed in the United States District Court for the Eastern District of Tennessee on behalf of purchasers of Miller Energy Resources, Inc. (NASDAQ: MILL) publicly traded securities during the period between March 22, 2010 and August 1, 2011 (the “Class Period”). The complaint charges Miller and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Miller is an independent exploration and production company that utilizes seismic data and other technologies for geophysical exploration and development of oil and gas wells. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and financial results. As a result of defendants’ false statements, Miller stock traded at artificially inflated prices during the Class Period, reaching a Class Period high of $8.02 per share on July 15, 2011.

On July 28, 2011, TheStreetSweeper published an investigative report on Miller regarding the Company’s 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. On this news, Miller’s stock dropped $1.64 per share to close at $5.40 per share on July 28, 2011. 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. On August 2, 2011, Miller stock dropped another $0.58 per share, to close at $3.37 per share, the Company’s lowest share price during the Class Period, and a decline of 58% from the Class Period high of $8.02 per share.

If you are a current shareholder and or purchased stock during the period of March 22, 2010 thru August 1, 2011 and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.

Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.