A law office recently announced that it filed a securities class action claim against an oil and gas company due to potential securities law violations.
Law firm Block and Leviton, LLP, noted it filed the litigation in the U.S. District Court for the Southern District of Texas against Hyperdynamics Corporation. This was due to the company's officers and other leaders allegedly violating the Securities Exchange Act of 1934, specifically Sections 10(b), 20(a) and Rule 10b-5. The lawsuit includes all shareholders who purchased interests in the company during the class period between Nov. 8, 2012, and March, 11, 2014.
Specific allegations included the company failing to let shareholders know of business operations issues that hurt the company, or misled those people on its prospects. Hyperdynamics may or may not have held only rights for oil and gas that were in violation of the U.S. Foreign Corrupt Practices Act, as well as possibly anti-money laundering statutes, among other issues.
It is possible for any shareholder to apply for the position of lead plaintiff. In order to do this, it is important for those interested parties to file paperwork with the court by May 12, 2014. Applying for the position is not mandatory in order to take part in the process, and absent class members are welcome.
For shareholders who are curious about how their rights may be affected, as well as those who want to learn more about the case itself, it is possible to speak with the law firm to learn more. Steven Harte is the best person to reach, and he can be contacted by telephone or email.
The law office also noted that it would like to speak with whistleblowers who can facilitate the process.
Second lawsuit filed
Another law firm noted that it filed a class action lawsuit against Hyperdynamics in the same court for many of the aforementioned reasons.
Pomerantz, LLP, explained that the lawsuit was for the same class period. It also said that Hyperdynamics previously received a subpoena from the Department of Justice due to many of the issues surrounding the lawsuit.
Shareholders also have the ability to speak with this law office in order to gain more information about the case and how it may affect them. Robert Willoughby is the best person to speak with, and he can be reached by telephone or email.