STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Oklahoma on behalf of purchasers of SandRidge Energy, Inc. (“SandRidge” or the “Company”) (NYSE: SD) securities during the period between March 1, 2013 and November 4, 2014, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until January 12, 2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in SandRidge securities purchased on or after March 1, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company was improperly accounting for penalties owed under a contract with Occidental Petroleum Corp. and that defendant Ward engaged in improper related party transactions.
According to the complaint, following the Company’s November 4, 2014 announcement that its consolidated financial statements for the periods ended December 31, 2012 and 2013 and its unaudited consolidated financial statements for the periods ended March 31, 2013, June 30, 2013, September 30, 2013, March 31, 2014, and June 30, 2014 should no longer be relied upon, the value of SandRidge shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.