Hyperdynamics is being investigated by the SEC and Justice Department over the company's purchase and holding of exploration rights in Guinea.
The investigation is looking into claims Hyperdynamics and its board of directors "breached its fiduciary duties to shareholders or violated federal securities laws," the Wall Street Journal reported.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts