Block & Leviton LLP Announces the Filing of a Class Action Lawsuit Against Hyperdynamics Corporation

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 [email protected].  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.
[email protected]
(617) 398-5600

SOURCE Block & Leviton LLP