INVESTOR ALERT: Investigation of Hyperdynamics Corporation Announced by Law Offices of Howard G. Smith
March 20 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of
Hyperdynamics Corporation (“Hyperdynamics” or the “Company”)
(NYSE:HDY) concerning possible violations of federal securities
laws. The investigation focuses on certain statements issued by
Hyperdynamics concerning the Company’s operations and financial
prospects.
Hyperdynamics is an independent oil and gas exploration company
engaged in the acquisition, exploration and development of oil and
gas properties in the Republic of Guinea, Northwest Africa. The
investigation is related to allegations that Hyperdynamics lacked
adequate internal and financial controls, and that the Company
obtained and retained oil and gas concession rights in violation of
the U.S. Foreign Corrupt Practices Act and/or U.S. anti-money
laundering statutes.
On September 30, 3013, the Company disclosed that in September
2013 it received a subpoena from the United States Department of
Justice (DOJ) requesting that the Company produce documents
relating to its business in Guinea, and that the DOJ investigation
concerns 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’ exploration partner, Tullow
Oil Plc, halted activities in Guinea due to the DOJ and U.S.
Securities and Exchange Commission investigations into
Hyperdynamics' activities related to the concession rights.
If you purchased Hyperdynamics securities between November 8,
2012 and March 11, 2014, if you have information or would like to
learn more about these claims, or if you have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com