The Shuman Law Firm Investigates SandRidge Energy, Inc.
BOULDER, Colo. -- February 6, 2013
The Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of SandRidge Energy, Inc. (“SandRidge”
or the “Company”) (NYSE: SD). SandRidge operates as an independent natural gas
and oil company and engages in the exploration, development and production of
oil and gas properties in the United States.
The firm’s investigation relates to the Company’s November 8, 2012 press
release announcing the Company’s financial results for the third quarter of
2012 and the Company’s reported loss of $184 million, or $0.39 per share,
compared with a profit of $561 million, or $1.16 per share, in the third
quarter of 2011. The Company-issued press release also disclosed that
SandRidge intended to sell off the remaining interest in the Company’s high
margin, oil-producing Permerian Basin assets. In addition, the investigation
concerns allegations that SandRidge had been overstating the value of its
Mississippian formation assets which, the Company subsequently acknowledged,
consisted of far more low-margin natural gas deposits than high-margin oil
deposits. Following the disclosure of this news, SandRidge stock dropped 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 currently own SandRidge common stock and are interested in discussing
your rights as a shareholder, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll-free at
(866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org or email Mr. Glenn
The Shuman Law Firm represents investors throughout the nation, concentrating
its practice in stockholder litigation.
The Shuman Law Firm
Kip B. Shuman, Esq., 866-974-8626
Rusty E. Glenn, Esq., 866-974-8626
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