Shareholders Foundation, Inc.

SandRidge Energy Inc. (NYSE:SD) Long Term Investor Alert: Investigation over Potential Wrongdoing

An investigation on behalf of current long term investors in SandRidge Energy Inc. (NYSE:SD) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:SD stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (SBWIRE) -- 01/08/2013 -- An investigation on behalf of current long term investors in shares of SandRidge Energy Inc. (NYSE:SD) was initiated concerning whether certain directors and officers of SandRidge Energy Inc possibly breached their fiduciary duties in connection with certain financial statements.

Investors who are current long term investors in SandRidge Energy Inc. (NYSE:SD) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in SandRidge Energy Inc. (NYSE:SD) stocks follows a lawsuit filed recently against SandRidge Energy Inc. over alleged Securities Laws Violations. The investigation on behalf of current long term investors in SandRidge Energy Inc. (NYSE:SD) stocks concerns whether certain SandRidge Energy Inc. (NYSE:SD) officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Western District of Oklahoma the plaintiff alleges that SandRidge Energy Inc. 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 January 7, 2013, NYSE:SD shares closed at $6.80 per share, which is almost half the value of in April 2011.

Those who purchased shares of SandRidge Energy Inc. (NYSE:SD) have certain options and 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