Mount Kellett Urges SandRidge Board Changes, CEO Ouster

Law360, New York (November 15, 2012, 4:34 PM EST) -- Private fund firm Mount Kellett Capital Management LP became the second SandRidge Energy Inc. shareholder in as many weeks to criticize the senior leadership of the Oklahoma energy company, writing Thursday that SandRidge has failed to maximize the value of project assets.

In a letter to SandRidge's board of directors, New York-based Mount Kellett blasted the company's senior management, particularly Chairman and CEO Tom Ward, for "critical failures of management" that have destroyed the company's value and damaged shareholder interests.

Mount Kellett Chief Operating Officer Jonathan...
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