An investigation for investors in shares of Hyperdynamics Corporation (NYSE:HDY) over potential wrongdoing by certain officers and directors was announced and current long-term NYSE:HDY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 10/09/2013 -- An investigation on behalf of investors in shares of Hyperdynamics Corporation (NYSE:HDY) was announced concerning whether certain Hyperdynamics officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of Hyperdynamics Corporation (NYSE:HDY) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns, among other things, whether certain Hyperdynamics officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
Hyperdynamics Corporation reported that its Net Loss declined from $149.31 million for the 12 months period that ended on June 30, 2012 to $18.46 million for the 12 months period that ended on June 30, 2013.
On Sept. 30, 2013, Hyperdynamics Corporation announced 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. Hyperdynamics Corporation said that 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. Hyperdynamics Corporation said that it understands that the DOJ is investigating whetherHyperdynamics' 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.
Shares of Hyperdynamics Corporation (NYSE:HDY) declined from $4.50 per share on Sept. 30, 2013, to $3.50 per share on Oct. 1, 2013.
On Oct. 7, 2013, NYSE:HDY shares closed at $3.31 per share.
Those who purchased shares of Hyperdynamics Corporation have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com