Hyperdynamics Announces End of Justice Department FCPA Investigation

Hyperdynamics Announces End of Justice Department FCPA Investigation

May 26, 2015

WASHINGTON, DC, May 26, 2015 — Covington represented Hyperdynamics Corporation in an investigation conducted by the U.S. Department of Justice into potential violations of the Foreign Corrupt Practices Act related to its business activities in the Republic of Guinea. The Justice Department has completed its investigation without bringing any charges against the company.

Hyperdynamics received a subpoena from the Justice Department in September 2013 concerning possible violations of the FCPA and other laws relating to its business in Guinea. The Houston-based oil and gas company fully cooperated with the government's investigation and the Justice Department noted the value of the company’s cooperation in its declination letter.

“This is an important development for Hyperdynamics,” said Ray Leonard, president and CEO of Hyperdynamics in a company press release. “We are extremely pleased to be informed that the DOJ has closed its inquiry into this matter.”

The SEC also issued a subpoena to Hyperdynamics concerning possible violations of the FCPA and other laws. The SEC investigation has not yet been resolved.

The Covington team handling the matter included Lanny Breuer, Nancy Kestenbaum and Barbara Hoffman.