Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of Hyperdynamics Corp.
("Hyperdynamics" or the "Company") (NYSE: HDY).
Hyperdynamics is a Houston, TX-based independent oil and gas exploration
company, primarily working in Guinea and North Africa.
The Firm's investigation relates to the Company's February 7, 2014
disclosure in a 10-Q Quarterly Report filed with the Securities Exchange
Commission ("SEC") tat "[d]uring September 2013, we received a subpoena
from the United States Department of Justice. Subsequently, in January
2014 we received a subpoena from the United States Securities and
Exchange Commission. Both subpoenas request that the Company produce
documents relating to its business in Guinea. We understand that the DOJ
and SEC are investigating whether our activities in obtaining and
retaining the Concession rights and our relationships with charitable
organizations potentially violate the U.S. Foreign Corrupt Practices Act
or U.S. anti-money laundering statutes. We have retained legal counsel
to represent us in these matters, initiated an internal investigation,
and we are cooperating fully with the government."
On February 12, 2014, Bloomberg
reported that Tullow Oil Plc had suspended work at a Guinea project it
was partnering with Hyperdynamics on as a result of the DOJ and SEC
investigations. Following this news, Hyperdynamics stock fell
approximately 58% to close at $2.19 per share.
If you currently own Hyperdynamics common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free
at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org
or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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