This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SHAREHOLDER ALERT: Morgan & Morgan Announces Investigation Of Sandridge Energy (NYSE:SD) And Whether Senior Management And The Board Of Directors Are Acting In The Best Interest Of Shareholders.

NEW YORK, Nov. 26, 2012 /PRNewswire/ -- Morgan & Morgan today announces that it has begun an investigation of Sandridge Energy, Inc. (NYSE: SD) to determine if the company's senior management and board of directors have breached their fiduciary duties to Sandridge Energy shareholders.  If you are a current shareholder of Sandridge Energy and are interested in learning more about our Sandridge Energy (SD) shareholder lawsuit investigation, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at

The investigation relates to the substance conveyed in a letter from a large shareholder - recently released to the public - that calls into question certain actions by senior management and the board of directors of Sandridge Energy.  The letter chronicled a broad set of proposals to reform Sandridge Energy including the following:  (1) The Board of Directors must be significantly reconfigured, with certain directors replaced by credible, independent directors, chosen after extensive consultation with large shareholders. In addition, large shareholders should be invited to join the board, if they so desire.  (2) The Board must then reconfigure management and leadership of the company. [The Author] believes CEO Tom Ward's credibility is too damaged to continue in his role. The company must bring in new management that is viewed as credible, experienced, and highly competent. (3) The Board should hire an advisor to explore all strategic alternatives. Given the difficult challenge of restoring confidence, the Board must also consider whether the value of the company's assets will instead be maximized through a sale to another company.

On November 18, 2012, Sandridge Energy adopted a Shareholder Rights Plan, which in reality is a poison pill.  Essentially, the poison pill renders it impractical for an outside entity to acquire more than 10% of Sandridge Energy's common stock.  At the same time, Sandridge Energy amended its corporate by-laws to now require a majority shareholder vote to remove a member of the board of directors.

About Morgan & Morgan

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs