SHAREHOLDER ALERT: Investigation on Behalf of SandRidge Energy, Inc. Investors Announced by Law Offices of Howard G. Smith
November 12 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of SandRidge
Energy, Inc. (“SandRidge” or the “Company”) (NYSE:SD). The
investigation concerns possible violations of federal securities
laws and focuses on certain statements issued by SandRidge between
March 1, 2013 and November 4, 2014, concerning the Company’s
operations and financial performance. SandRidge is engaged in the
exploration and production of oil and natural gas properties
primarily in the Mid-Continent region of the United States.
The investigation relates to the Company’s November 4, 2014,
disclosure that the SEC has requested that the Company reassess how
it accrues liability for certain annual penalty fees related to the
Company’s 30-year agreement with Occidental Petroleum Corporation
for the delivery of CO2 to Occidental and the removal of CO2 from
the Company’s delivered natural gas production. The Company further
disclosed that the Audit Committee of the Company’s board of
directors has concluded that the consolidated financial statements
included in its annual reports on Form 10-K and certain quarterly
reports filed for periods ended December 31, 2012, March 31, 2013,
June 30, 2013, September 30, 2013, December 31, 2013, March 31,
2014 and June 30, 2014, cannot be relied upon.
If you purchased SandRidge shares, if you have information or
would like to learn more about these claims, or if you have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com