SOURCE: Shareholders Foundation, Inc.

Shareholders Foundation, Inc.

April 10, 2012 09:45 ET

Deadline on June 1 in Lawsuit for Investors in Hyperdynamics Corporation (HDY) Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Apr 10, 2012) - The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on June 1 in the lawsuit filed in the U.S. District Court for the Southern District of Texas on behalf of certain investors in shares of Hyperdynamics Corporation (HDY) against Hyperdynamics Corporation over alleged Violations of Federal Securities Laws in connection with allegedly false and misleading statements.

Investors with a substantial investment in Hyperdynamics Corporation (HDY) shares between February 17, 2011 and February 15, 2012 have certain options and should contact the Shareholders Foundation by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

According to the complaint the plaintiff alleges that Hyperdynamics and its President/Chief Executive Officer violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Hyperdynamics' business and financial results.

On February 15, 2012, Hyperdynamics announced 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 (HDY) dropped from over $5 per share on November 8, 2011 to as low as $1.18 per share on February 23, 2012 and closed on April 2, 2012, at $1.30 per share.

Those who purchased Hyperdynamics Corporation (HDY) shares have certain options and should contact the Shareholders Foundation.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108