Sandridge Energy (SD) Shareholder Lawsuit
Sandridge Energy (SD) Shareholder Rights Investigation Summary
The Board of Directors of Sandridge Energy (SD) owe SD shareholders well defined duties to act in the best interest of Sandridge Energy shareholders. Events over the past two years have raised basic questions whether Sandridge Energy shareholders have been properly served by Sandridge Energy’s Board of Directors. Our investigation centers on whether Sandridge Energy (SD) senior management on Board of Directors has properly exercised its duties to all SD shareholders.
Sandridge Energy (SD) Shareholders have raised questions about Sandridge Energy’s corporate decisions
CEO Tom Ward received over $25 million dollars in compensation in 2011, including salary, stock options, stock awards and bonuses. Is this a fair compensation package?
Is the Board of Directors properly constituted with an appropriate number of independent directors?
Given Sandridge Energy has no immediate financing needs, is the current strategy of selling key assets in the best interest of shareholders?
Is the new “shareholder rights” plan truly in the best interests of shareholders or simply designed to further entrench and insulate the CEO and existing Board of Directors? This recently adopted plan provides that stockholders will receive the right to buy additional shares, exercisable if an outside party acquires more than 10 percent of Sandridge Energy or an institutional investor acquires 15 percent of Sandridge Energy, according to a statement today. Sandridge Energy also changed its bylaws to make it more difficult to overhaul SandRidge’s board by requiring a majority vote of its shares to fill vacancies or change the board’s rules.
Sandridge Energy (SD) Shareholder Rights Investigation
The questions set forth above, raise basic questions of whether senior management and the board of directors of Sandridge Energy (SD) are properly executing their respective duties to SD shareholders. If you are a current Sandridge Energy shareholder and would like to learn more about our investigation or if you wish to discuss these matters or have any questions concerning this investigation, please contact us by competing the contact form or call Attorney George Pressly at 1 (800) 631-6234.