NEW YORK, June 11, 2015 /PRNewswire-USNewswire/ -- Robbins Geller Rudman & Dowd LLP ("Robbins Geller"), court-appointed lead counsel for plaintiffs in a class action brought on behalf of purchasers of SandRidge Energy, Inc. ("SandRidge") securities, announces that a class action lawsuit has been filed on behalf of investors in the SandRidge Mississippian Trust I ("Trust I") (NYSE:SDT) and SandRidge Mississippian Trust II ("Trust II") (NYSE:SDR) (collectively, the "Trusts").
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at [email protected].
The complaint, which was filed in the U.S. District Court for the Western District of Oklahoma, charges that defendants made false and/or misleading statements and failed to disclose that: (1) the underlying properties from which royalty interests were conveyed to the Trusts consisted of far more low-margin natural gas deposits and far fewer high-margin oil deposits; and (2) the reserves of oil in the underlying properties associated with the Trusts were vastly overstated. When the true details entered the market, the lawsuit claims that investors suffered damages.
Plaintiffs seek to recover damages on behalf of those who purchased or otherwise acquired common units of: (i) Trust I pursuant or traceable to Trust I's initial public offering on or about April 7, 2011, and/or at other times during the time period between April 7, 2011 and November 8, 2012, both dates inclusive (the "Class Period"); and/or (ii) Trust II pursuant or traceable to Trust II's initial public offering on or about April 17, 2012, and/or at other times during the Class Period.
Robbins Geller has extensive experience in prosecuting investor class actions and has developed intimate knowledge of the allegations against the Trusts in connection with serving as lead plaintiff in a securities class action against SandRidge.
Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history and was ranked number one in the number of shareholder class action recoveries in ISS's SCAS Top 50 report for 2014. Please visit http://www.rgrdlaw.com for more information.
SOURCE Robbins Geller Rudman & Dowd LLP