NEW YORK, April 18, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Hyperdynamics Corporation ("Hyperdynamics" or the "Company") (NYSE: HDY).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Hyperdynamics was from suffering numerous cost overruns and delays; (2) the Company had far greater exposure to liquidity concerns than it had previously disclosed; and (3) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's drilling operations or the prospective value of the Company's Gulf of Guinea oil and gas concessions.
Take Action If you purchased Hyperdynamics securities between February 17, 2011 and February 15, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/HDY. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected] or [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Hyperdynamics' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. [email protected] Francis McConville, Esq. [email protected] Telephone: (877) 247-4292 or (212) 983-9330