BOSTON, March 14, 2014 /PRNewswire/ -- Block &
Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors
nationwide, announces that a class action lawsuit has been filed
against Hyperdynamics Corporation ("Hyperdynamics" or the
"Company") (NYSE: HDY) and certain of its officers alleged to
have made false and misleading statements or failing to disclose
material facts adverse to the Company. The litigation is
pending in United States District Court for the Southern District
of Texas, case number
4:14-cv-00641.
The lawsuit seeks to recover damages on behalf of all purchasers
of Hyperdynamics securities who acquired their stocks, bonds or
options between November 8, 2012, and
March 11, 2014 (the "Class
Period"). Claims asserted include alleged violations of the
federal securities laws pursuant to Sections 10(b) and 20(a) of the
Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder.
Specifically, the complaint alleges that throughout the Class
Period, Defendants failed to disclose material facts adverse to its
business, and made false and/or misleading statements regarding
Hyperdynamics' business, operations and prospects. The
allegations concern statements regarding whether the Company
obtained and retained oil and gas rights in violation of the U.S.
Foreign Corrupt Practices Act and/or U.S. anti-money laundering
statues, that Hyperdynamics lacked sufficient internal and
financial controls and that Hyperdynamics thereby made material
false and misleading statements. Hyperdynamics has been
subpoenaed by the Department of Justice, and as developments
continue to be uncovered about the wrongful acts, the Company's
share price has plummeted, harming its investors.
If you are a shareholder who purchased securities of
Hyperdynamics during the Class Period, you only have until
May 12, 2014, to seek appointment as
a Lead Plaintiff in this action. The Class Period may expand
as more information about the allegations comes to light. If
you have questions about the lawsuit, possess information relevant
to this investigation, or seek information about any of the
foregoing, please contact attorney Steven
Harte, at (617) 398-5600 or email him at
Steven@blockesq.com. Block & Leviton is also experienced
at representing whistleblowers and encourages any insiders with
information about the allegations to contact them.
Confidentiality is assured.
Block & Leviton represents investors nationwide for
violations of securities laws. The firm's lawyers have
collectively been prosecuting securities cases on behalf of
investors for over 70 years. This notice may constitute
attorney advertising.
Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
steven@blockesq.com
(617) 398-5600
SOURCE Block & Leviton LLP