NEW YORK, March 14, 2014 /PRNewswire/ -- Levi & Korsinsky has commenced an investigation into Hyperdynamics Corporation ("Hyperdynamics" or the "Company") (NYSE: HDY) for possible violations of federal securities laws.
Click here to learn more: http://zlk.9nl.com/hyperdynamics or call: 877-363-5972. There is no cost or obligation to you.
In 2006 Hyperdynamics entered into a Production Sharing Contract with the government of Guina, pursuant to which Hyperdynamics acquired an offshore oil and gas concession (the "Concession"). Then on December 31, 2012, the Company sold a 40% interest in the Concession to Tullow Oil.
On September 30, 2013, shares of Hyperdynamics fell after the company announced that it had received a subpoena from the Department of Justice ("DOJ") requesting that the company produce documents relating to its business in Guinea. Then in its Form 10-Q for the quarter ended December 31, 2013, the Company disclosed that it had received a subpoena from the Securities and Exchange Commission relating to its acquisition of the Concession. Then on March 12, 2014 Tullow Oil announced that the investigations constitute a "force majeure" under its agreement with Hyperdynamics, thereby allowing Tullow to suspend plans to begin drilling at the Concession until the investigations are resolved. Upon this news, shares of Hyperdynamics stock fell over 58 percent.
If you own Hyperdynamics stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/hyperdynamics.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
Logo - http://photos.prnewswire.com/prnh/20120409/MM84375LOGO
SOURCE Levi & Korsinsky, LLP
Share this article