NEW YORK, March 13, 2014 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the
securities of Hyperdynamics Corporation ("Hyperdynamics" or the
"Company") (NYSE: HDY). Such investors are advised to contact
Peretz Bronstein or his investor
Relation's coordinator Eitan
Kimelman at info@bgandg.com or 212-697-6484.
The investigation relates to whether or not Hyperdynamics and
certain of its executives complied with federal securities laws
when making statements to investors. On September 30, 2013, shares of Hyperdynamics fell
$0.66 cents or approximately 15% to
close at $3.76 after the company
announced that in September 2013 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. According to the Company, the
DOJ is investigating whether Hyperdynamics' 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.
Then on March 12, 2014,
Hyperdynamics announced that Tullow stated that the decisions by
the DOJ and SEC to open investigations constituted a "force
majeure" under its agreement with Hyperdynamics, thereby allowing
Tullow to suspend plans to start drilling a deepwater well at the
Concession on April 1, 2014.
According to Tullow, it "cannot proceed with its activities on the
license until these issues are resolved."
On this news, shares of the Hyperdynamics fell $3.07 or 58.37% to close at $2.19.
If you are aware of any facts relating to this investigation, or
purchased shares of Hyperdynamics, you can assist this
investigation by contacting Peretz
Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz &
Grossman, LLC at 212-697-6484 or via email info@bgandg.com.
Those who inquire by e-mail are encouraged to include their mailing
address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not
guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein 212-697-6484
info@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC