A lawsuit was filed for certain investors in shares of SandRidge Energy Inc. (NYSE:SD) over alleged securities laws violations by SandRidge Energy Inc. Deadline: February 4, 2013 and NYSE:SD stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 12/10/2012 -- An investor in shares of SandRidge Energy Inc. (NYSE:SD) filed a lawsuit in the U.S. District Court for the Western District of Oklahoma over alleged securities laws violations by SandRidge Energy Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of SandRidge Energy Inc. (NYSE:SD) between February 24, 2011 and November 8, 2012, have certain options and there are strict and short deadlines running. Deadline: NYSE:SD investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased the securities of SandRidge Energy Inc. (NYSE:SD) between February 24, 2011 and November 8, 2012, that SandRidge Energy Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 24, 2011 and November 8, 2012 allegedly materially false and misleading statements regarding the Company’s operational status and financial projections.
Shares of SandRidge Energy Inc. (NYSE:SD) rose from as low as $7.27 per share in late January 2011 to as high as $12.96 per share in April 2011 and declined then in September 2011 to as low as $5.56 per share.
On November 8, 2012, a large shareholder of SandRidge Energy Inc. issued a letter addressed to the SandRidge Board of Directors calling for the CEO’s resignation, citing, among other things, SandRidge's "disastrous performance" over 76% decline in its stock price since its initial public offering in 2007.
NYSE:SD shares declined to as low as $5.19 per share on November 14, 2012.
On December 7, 2012, NYSE:SD shares closed at $7.29 per share.
Those who purchased shares of SandRidge Energy Inc. (NYSE:SD) between February 24, 2011 and November 8, 2012, have certain options and there are strict and short deadlines running. Deadline: NYSE:SD investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com