Hyperdynamics Faces Investor Suit Over FCPA Disclosures

Law360, New York (March 14, 2014, 6:40 PM EDT) -- Oil and gas startup Hyperdynamics Corp. was slapped with a putative class action in Texas federal court Thursday by investors alleging it made false and misleading statements during a Department of Justice probe into its potential violations of the Foreign Corrupt Practices Act.

Investor Dennis Gerami, on behalf of investors who purchased Hyperdynamics stock between Nov. 8, 2012 and March 11, 2014, claims the Houston-based company and its top executives failed to disclose the fact that it obtained oil and gas concession rights in violation of...
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