Attention Hyperdynamics Corporation Investors: Hyperdynamics Misled Investors According to a Recently Filed Class Action

Attention Hyperdynamics Corporation Investors: Hyperdynamics Misled Investors
                  According to a Recently Filed Class Action

PR Newswire

SAN DIEGO and HOUSTON, March 21, 2014

SAN DIEGO andHOUSTON, March 21, 2014 /PRNewswire/ -- Shareholder rights law
firm Robbins Arroyo LLP announces that an investor of Hyperdynamics
Corporation (NYSE: HDY) has filed a federal securities fraud class action
complaint in the U.S. District Court for the Southern District of Texas. The
complaint alleges that the company and certain of its officers and directors
violated the Securities and Exchange Act of 1934 between November 8, 2012 and
March 11, 2014 (the "Class Period"). Hyperdynamics is an independent oil and
gas exploration company engaged in the acquisition, exploration, and
development of oil and gas properties in the Republic of Guinea, Northwest
Africa.

Robbins Arroyo LLP.

Hyperdynamics Accused of Violating the Foreign Corrupt Practices Act

According to the complaint, shares of Hyperdynamics fell on multiple occasions
beginning with a decline of $0.66, or nearly 15%, to close at $3.76 per share
on October 1, 2013. This initial drop followed the September 30, 2013
announcement that the company had received a subpoena from the United States
Department of Justice seeking documents related to the company's business
practices in Guinea. Specifically, the DOJ's investigation focused on the
company's efforts to obtain and retain concession rights in possible violation
of the U.S. Foreign Corrupt Practices Act or U.S. anti-money laundering
statutes. Shares of Hyperdynamics declined $3.07 per share, or over 58%, to
close at $2.19 on March 12, 2014, after the company announced that its partner
in the Guinea project, Tullow Oil Plc, ceased operations based on
investigations by the DOJ and U.S. Securities and Exchange Commission
regarding alleged fraud and corruption by Hyperdynamics in obtaining drilling
licenses in Guinea.

The complaint further alleges that Hyperdynamics made materially false and
misleading statements regarding the accuracy of the company's financial
statements and its internal and financial controls. As a result, Hyperdynamics
statements regarding financial performance were materially false and
misleading throughout the Class Period.

Hyperdynamics Shareholders Are Encouraged to Contact Shareholder Rights Law
Firm Robbins Arroyo

If you invested in Hyperdynamics and would like to discuss your shareholder
rights, please contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the information form on the firm's
shareholder rights blog:
www.robbinsarroyo.com/shareholders-rights-blog/hyperdynamics-corporation

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

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SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
 
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