The Shareholders Foundation announces that an investigation on behalf of investors in shares of Hyperdynamics Corporation (NYSE:HDY) was initiated over potential securities laws violations by certain officers and directors at Hyperdynamics Corp.
Investors whopurchased 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 focuses on possible claims on behalf of purchasers of the securities of Hyperdynamics Corporation (NYSE:HDY) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements Hyperdynamics’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
On November 8, 2011, Hyperdynamics Corporation announced that its Q3 2011 net loss had increased to $4.38M, 52% above the prior year’s losses, for a quarterly EPS of -$0.03. This exceeded analysts’ expectations of a Q3 loss of -$0.02 EPS. Between market close on November 8, 2011 and market close on November 9, 2011, Hyperdynamics’ share price fell by $1.33, or almost 25%, to $4.06.
On December 14, 2011, Hyperdynamics announced drilling delays on its Sabu-1 well.
On January 30, 2012, Hyperdynamics Corporation announced that it would raise $30 Million in a Registered Direct Offering.
On February 15, 2012, Hyperdynamics issued a press release announcing that it “Encounters Oil Shows in Sabu-1 Well Offshore Guinea-Conakry.” Hyperdynamics Corporation said that “the indicated oil saturation appears to be residual, suggesting that larger volumes of oil formerly were present in the reservoirs but subsequently leaked out or that these rocks lay on a hydrocarbon migration pathway.”
Shares of Hyperdynamics Corporation (NYSE:HDY) dropped from $2.18 on Wednesday to $1.05 on Thursday and closed Friday, February 17, 2012 at$1.38 per share.
Those who purchased shares of Hyperdynamics Corporation (NYSE:HDY), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail(at)shareholdersfoundation.com