The Rosen Law Firm announces that it is investigating potential civil
securities violations against Hyperdynamics Corporation (NYSE:HDY)
resulting from allegations that the company made inadequate disclosures
relating to known facts about the Company’s operations.
On September 30, 2013, the Company announced that it received a subpoena
from the Department of Justice ("DOJ") requesting that the company
produce documents relating to its business in Guinea. In 2006, a
Production Sharing Contract was signed by the Company and the government
of Guinea granting rights to an oil and gas concession offshore Guinea.
The Company stated that the DOJ is investigating whether the Company’s
activities in obtaining and retaining the concession rights and its
relationships with charitable organizations potentially violate the U.S.
Foreign Corrupt Practices Act or U.S. anti-money laundering statutes.
On March 12, 2014, the Company announced that Tullow Oil Plc, a company
that was partnering with Hyperdynamics, had suspended work at a Guinea
project as a result of the DOJ investigation. On this news, the
Company’s stock fell 58%.
The Rosen Law Firm is investigating a securities class action lawsuit on
behalf of Hyperdynamics investors. If you purchased Hyperdynamics stock
before March 12, 2014, please visit the website at http://rosenlegal.com
for more information. You may also contact Kevin Chan, Esq. or Phillip
Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail
at kchan@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Copyright Business Wire 2014