|By PR Newswire||
|March 14, 2014 11:00 AM EDT||
WAYNE, Pa., March 14, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP announces that it is investigating potential claims against Hyperdynamics Corporation ("Hyperdynamics" or the "Company") (NYSE: HDY) on behalf of investors of Hyperdynamics who purchased shares of the Company between November 8, 2012 and March 11, 2014.
If you purchased shares of Hyperdynamics and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/hdy. You may also email Mr. Maniskas at [email protected].
The investigation concerns whether Hyperdynamics and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On September 30, 2013, the Company announced that it received a subpoena from the Department of Justice ("DOJ") requesting that the company produce documents relating to its business in Guinea. 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. The Company stated that the DOJ is investigating whether the Company's 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.
On March 12, 2014, the Company announced that Tullow Oil Plc, a company that was partnering with Hyperdynamics, had suspended work at a Guinea project as a result of the DOJ investigation. On this news, the Company's stock fell 58%.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
SOURCE Ryan & Maniskas, LLP
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