SandRidge Sued Over Alleged False Statements

Law360, Los Angeles (December 07, 2012, 3:21 PM ET) -- SandRidge Energy Inc. and its top executives were hit with a putative shareholder class action in Oklahoma federal court Thursday, alleging they committed securities fraud by falsely overstating the value of their oil-producing assets and inflating the company's stock price.

During the proposed class period of Feb. 24, 2011, to Nov. 8, 2012, Ward made a series of “bullish” statements concerning the company’s prospects concerning its transition from natural gas production, including an April 2012 news interview in which he promised to double the Oklahoma City-based...
To view the full article, register now.