July 31, 2014 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
April 21, 2014 - The court preliminarily approved the settlement.

March 25, 2014 - Parties filed a stipulation of settlement.

September 16, 2013 - The court denied the defendants' motions to dismiss.

July 17, 2013 - Parties filed a stipulation dismissing all claims against the defendant, GMX Resources Inc, with prejudice. The lead plaintiffs proceeded with claims asserted against the remaining defendants.

April 12, 2013 - GMX Resources Inc filed a notice of bankruptcy.

October 1, 2012 - The defendants filed motions to dismiss.

August 17, 2012 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased GMX Resources Inc (NYSE: GMXR) common shares pursuant or traceable to the company’s stock offerings on May 13, 2009 and October 22, 2009. The lead plaintiffs allege that the defendants violated the Securities Act of 1933 by issuing false and misleading statements pursuant or traceable to the company’s stock offerings on May 13, 2009 and October 22, 2009.

July 3, 2012 - Lead plaintiffs and lead counsel were appointed.

February 3, 2012 - Lead plaintiff motions were filed.

May 12, 2011 - The defendants filed a notice of removal to the U.S. District Court for the Western District of Oklahoma.

March 1, 2011 - An investor in shares of GMX Resources Inc (NYSE: GMXR) filed a lawsuit in the District Court in and for Oklahoma County State of Oklahoma against GMX Resources Inc over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of investors who purchased the common stock of GMX Resources Inc (NYSE: GMXR) pursuant or traceable to the company’s stock offerings on July 17, 2008, May 13, 2009 and October 22, 2009, that GMX Resources Inc violated the securities laws by issuing false financial statements to investors in the stock offerings on July 17, 2008, May 13, 2009 and October 22, 2009.

On March 11, 2010, the company disclosed that its full year 2008 and quarterly 2009 financial statements were inaccurate and must be restated. The company also announced that investors could no longer rely on its financial statements. GMX Resources Inc subsequently restated its financial statements to correct for the method used to record full cost pool impairment charges and related deferred income taxes. As a result of the restatement, the company’s net loss for fiscal year 2008 was $124.6 million as compared to the originally reported $81.7 million.

While GMX Resources Inc’s annual Total Revenue increased from $67.88million in 2007 to $96.52million in 2010 its Net Income fell within the same time frame from $16.89million in 07 to $141.41million in 2010.

Shares of GMX Resources Inc fell from $14.41 on January 4 2010 to recently $4.56 per share.