SandRidge Can't Escape Suit Over $75M Oil Project

Law360, New York (July 1, 2013, 4:53 PM EDT) -- A Connecticut federal judge on Saturday rejected SandRidge Energy Inc.'s bid to toss an investor lawsuit accusing the oil drilling company of misrepresenting the expected returns of a $75 million drilling project, saying the plaintiffs had adequately supported their fraud claims.

The plaintiffs brought the suit against SandRidge, three of its top executives and several board members in August 2011, claiming they were defrauded when they purchased interest in SandRidge’s project, which took place in a West Texas gas field. In moving to dismiss the suit,...
To view the full article, register now.