INVESTOR ALERT: Class Action Lawsuit Against Hyperdynamics Corporation Announced by Glancy Binkow & Goldberg LLP
April 10 2014 - 10:32AM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class action
lawsuit has been filed in the United States District Court for the
Southern District of Texas on behalf of a class (the “Class”)
comprising all purchasers of the securities of Hyperdynamics
Corporation (“Hyperdynamics” or the “Company”) (NYSE:HDY) between
November 8, 2012 and March 11, 2014, inclusive (the “Class
Period”).
Please contact Glancy Binkow & Goldberg LLP, toll-free at
888-773-9224 or at 212-682-5340, or by email to
shareholders@glancylaw.com to discuss this matter.
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
Complaint alleges that during the Class Period defendants made
false and/or misleading statements or failed to disclose material
adverse facts, including that Hyperdynamics lacked adequate
internal and financial controls and 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 related
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 are a member of the Class described above, you may move
the Court no later than May 12, 2014, to serve as lead plaintiff,
if you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Michael Goldberg,
Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067, Toll-Free at
888-773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow
& Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New
York 10168, at 212-682-5340, by e-mail to
shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael
Goldberg, 888-773-9224orGlancy Binkow & Goldberg LLP, New York,
NYGregory Linkh, 212-682-5340 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com