This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Branham Law Group Investigating HyperDynamics Corporation

Branham Law Group, LLP , a firm representing shareholders, is investigating HyperDynamics Corporation (NYSE: HDY) to determine whether actions of the officers or directors at HyperDynamics resulted in materially false and misleading statements to investors. The investigation also seeks to determine if those statements were intended to deceive the market and artificially increase the company's stock price. Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Trey Branham at (855) 722-5910 or tbranham@branhamlawgroup.com .

Branham Law Group, LLP’s investigation is focusing on allegations that Ray Leonard, HyperDynamics’ Chief Executive Officer, along with other senior executives at HyperDynamics, made misleading statements regarding the prospective value of the company's oil and gas concessions in Northwest Africa. During a September 2011 conference call, Mr. Leonard discussed Guinea Coast operations, informing investors that, "We are very confident in our program and in the prospectively of this acreage. I guess you can put two and two together on that." Unfortunately, just over a month later, on November 8, 2011, HyperDynamics disclosed financial results for 2011’s third quarter unveiling an increase in the Company’s net loss to $4.38 million for the quarter. This loss was 52% above the prior year's losses during the same period. After this disclosure shares of HyperDynamics fell by $1.33. This translates to a loss of almost 25% of their value and closed at $4.06 on November 9, 2011.

Then on February 15, 2012, HyperDynamics revealed that exploratory operations "indicated oil saturation [at the well] 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." This disclosure came after the market's normal trading hours. The next day the company’s shares opened at $1.12 per share, down over 30%.

Damaged HyperDynamics shareholders have the option of filing a class action lawsuit to recover damages incurred as a result of disclosures.

The Branham Law Group, LLP has extensive experience in securities and commercial litigation and handled claims of investor fraud, partnership oppression, shareholder derivative suits, and class actions of all types. The Branham Law Group also advises whistleblowers on appropriate courses of actions.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs