Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From
Investment in SandRidge Energy, Inc. to Inquire About the Lead Plaintiff
Position in Securities Fraud Class Action Lawsuit Before the February 4, 2013
Lead Plaintiff Deadline -- SD
STEVENSON, Md., Dec. 7, 2012 (GLOBE NEWSWIRE) -- Brower Piven, A Professional
Corporation announces that a class action lawsuit has been commenced in the
United States District Court for the Western District of Oklahoma on behalf of
purchasers of SandRidge Energy, Inc. ("SandRidge" or the "Company") (NYSE:SD)
common stock during the period between February 24, 2011 and November 8, 2012,
inclusive (the "Class Period").
If you have suffered a net loss from investment in SandRidge Energy, Inc.
common stock purchased on or after February 24, 2011 and held through November
8, 2012, you may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at firstname.lastname@example.org, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than February 4, 2013 and be selected
by the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period.You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that its Mississippian assets consisted of significantly higher
low-margin natural gas deposits and significantly lower high-margin oil
deposits than the Company had led investors to believe, that mechanical issues
causing a slowdown of the Company's drilling operations in the Gulf of Mexico,
and that the Company's true purpose for its $1.3 billion acquisition of
Dynamic Offshore Resources was to provide a financing vehicle for the
Company's onshore drilling projects. According to the Complaint, following the
Company's November 8, 2012 disclosure that it had been grossly overstating the
proportion of oil-producing versus natural-gas-producing assets in the
Mississippian formation and that it intended to sell its interest in the
Company's highest-margin oil producing assets, the value of SandRidge shares
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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