The Rosen Law Firm Announces Investigation of Securities Claims against Hyperdynamics Corporation - HDY
March 13 2014 - 4:25PM
Business Wire
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.
The Rosen Law Firm P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue 34th FloorNew York, New York
10016Tel: 212-686-1060Weekend Tel: 917-562-8616Toll Free:
1-866-767-3653Fax:
212-202-3827lrosen@rosenlegal.comkchan@rosenlegal.compkim@rosenlegal.comwww.rosenlegal.com