Levi & Korsinsky Notifies Investors With Losses on Their Investment in
SandRidge Energy, Inc. of Class Action Lawsuit and the Deadline of February 3,
2013 to Seek a Lead Plaintiff Position
NEW YORK, Jan. 30, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a
class action lawsuit has been commenced in the United States District Court
for the Western District of Oklahoma on behalf of investors who purchased
SandRidge Energy Inc. ("SandRidge" or the "Company") (NYSE:SD) stock between
February 24, 2011 and November 8, 2012.
For more information, click here: http://zlk.9nl.com/sandridge-energy-sd/.
The complaint alleges that, among other things, SandRidge misrepresented the
proportions of low-margin natural gas and high-margin oil contained in its
Mississippian formation and that the Company failed to adequately disclose
mechanical issues with a rig that negatively impacted its operations.
On November 8, 2012, the Company disclosed that they had been grossly
overstating the proportion of oil-producing versus natural gas producing
assets in the Company's Mississippi formation. The Company also disclosed
that they intended to sell the Company's remaining interest in the Permerian
Basin assets even though those assets were the Company's highest-margin oil
producing assets.In reaction to this news, SandRidge stock collapsed from its
November 8, 2012 closing price of $6.10 per share to close at $5.51 per share
on November 9, 2012 on high trading volume.
If you suffered a loss in SandRidge you have until February 3, 2013 to request
that the Court appoint you as lead plaintiff.Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York and Washington
D.C. The firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior results do
not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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