New York, NY (PRWEB) October 01, 2013
Zamansky LLC announces that continuous shareholders since June 2008 of SandRidge Energy Inc. (“SandRidge”), the Oklahoma-based oil and natural gas exploration company, have deadlines in the pending shareholder derivative action to protect their rights. SandRidge’s long-time shareholders are represented in the pending shareholder derivative action, In re SandRidge Energy Inc. Shareholder Derivative Litigation, U.S. District Court, W. D. Okla., No. 13-CV-102-W.
The Complaint filed in the derivative lawsuit alleges that SandRidge’s Board of Directors breached fiduciary duties owed to shareholders by permitting Tom L. Ward, the CEO, to usurp corporate opportunities. The Complaint alleges that Ward and his family invested in mineral rights for leaseholds next to, adjacent to and in the same geographical area as SandRidge. The Complaint alleges that Ward and his family sold mineral rights to SandRidge in related party transactions that were not properly vetted and approved by shareholders. SandRidge was allegedly damaged by these transactions and the lawsuit was filed on behalf of the long-term shareholders of the Company.
According to stock fraud attorney Jacob Zamansky, the long-term shareholders of SandRidge stand to benefit from the success of the shareholder derivative lawsuit. There are various deadlines in the lawsuit for shareholders to take steps to protect their legal rights, Zamansky states, including their participation in the lawsuit. Any SandRidge shareholders who have held the stock continuously since June 2008 should discuss inform themselves of any deadlines in the lawsuit which may impact their legal rights.
What Sandridge Energy Shareholders Can Do
If you are a SandRidge Energy stockholder who has held the stock continuously since June 2008, and wish to discuss your legal rights or any upcoming deadlines in the lawsuit, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading stock law firm specializing in securities class actions and shareholder litigation. We are securities fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
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New York, NY 10004
Jake Zamansky, 212-742-1414