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SandRidge Energy Inc (NYSE: SD) Investor Securities Class Action Lawsuit 12/05/2012

  • If you purchased shares of SandRidge Energy Inc (NYSE: SD), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
SandRidge Energy Inc.
Security
NYSE: SD

Case Name
SandRidge Energy Shareholder Class Action Lawsuit 12/05/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Western District of Oklahoma

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

August 1, 2017 - The court granted defendants' motion to dismiss.
November 7, 2016 - Defendants filed a motion to dismiss.

October 21, 2016 - The lead plaintiffs filed a third amended consolidated complaint.

December 18, 2015 - Defendants filed a motion to dismiss.

October 23, 2015 - The lead plaintiffs filed a second amended consolidated complaint.

August 27, 2015 - The court granted defendants' motion to dismiss without prejudice.

October 7, 2013 - Defendants filed a motion to dismiss.

July 30, 2013 - The lead plaintiffs filed a corrected amended consolidated complaint.

July 23, 2013 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased SD common shares between February 24, 2011 and November 8, 2012. The lead plaintiff alleges that the defendants violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing false and misleading statements between February 24, 2011 and November 8, 2012.

March 6, 2013 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

February 4, 2013 - Lead plaintiff motions were filed.

December 5, 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 against SandRidge Energy Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 24, 2011 and November 8, 2012.

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 SandRidge Energy Inc’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 Energy Inc Board of Directors calling for the CEO’s resignation, citing, among other things, SandRidge Energy Inc's disastrous performance over 76% decline in its stock price since its initial public offering in 2007.

SandRidge Energy Inc (NYSE: SD) shares declined to as low as $5.19 per share on November 14, 2012.

On December 5, 2012, SandRidge Energy Inc (NYSE: SD) shares closed at $6.45 per share.