NEW YORK (TheStreet) -- Hyperdynamics (HDY) closed down 3.59% to $1.88 on Wednesday as accounting firm Deloitte & Touche announced they will no longer represent the oil and gas exploration company.

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. 

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