Robbins Geller Rudman & Dowd LLP Announces Settlement of Class Action Involving Purchasers of SandRidge Energy Inc. Common Stock

OKLAHOMA CITY, June 3, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF OKLAHOMA

TO: ALL PERSONS AND ENTITIES THAT PURCHASED OR ACQUIRED SANDRIDGE ENERGY, INC. ("SANDRIDGE") COMMON STOCK DURING THE PERIOD BETWEEN FEBRUARY 24, 2011 AND NOVEMBER 8, 2012, INCLUSIVE (THE "CLASS PERIOD")

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Western District of Oklahoma, that a hearing, which the Court may require or permit to be conducted as a telephonic hearing, will be held on October 6, 2022, at 10:00 a.m., before the Honorable Charles B. Goodwin, United States District Court for the Western District of Oklahoma, 200 NW 4th Street, Oklahoma City, OK 73102, for the purpose of determining: (1) whether the proposed Settlement of the above-captioned litigation (the "Litigation"), as set forth in the Stipulation and Agreement of Settlement ("Stipulation") reached between the parties, consisting of Twenty-One Million Eight Hundred Seven Thousand Five Hundred Dollars ($21,807,500) in cash, should be approved as fair, reasonable, and adequate to the Members of the Class; (2) whether the release by Class Members of claims as set forth in the Stipulation should be authorized; (3) whether the proposed plan to distribute the settlement proceeds (the "Plan of Allocation") is fair, reasonable, and adequate; (4) whether the application by Lead Counsel for an award of attorneys' fees, charges, and expenses and the award to Plaintiffs pursuant to 15 U.S.C. §78u-4(a)(4) in connection with their representation of the Class should be approved; and (5) whether the Judgment, in the form attached to the Stipulation, should be entered.

Please note that the date, time and location of the Settlement Hearing are subject to change without further notice.  The Court may require or permit attendance at the Settlement Hearing by telephone.  If the Court requires or permits telephonic participation in the Settlement Hearing, the dial-in number for the Settlement Hearing will be posted on www.SandRidgeSecuritiesSettlement.com.  Class Members who intend to appear at the Settlement Hearing are advised to visit www.SandRidgeSecuritiesSettlement.com for updates.

IF YOU PURCHASED OR ACQUIRED ANY OF THE COMMON STOCK OF SANDRIDGE DURING THE PERIOD BETWEEN FEBRUARY 24, 2011 AND NOVEMBER 8, 2012, INCLUSIVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form ("Proof of Claim"), you may obtain copies by writing to SandRidge Securities Settlement, c/o Epiq, P.O. Box 6909, Portland, OR 97228-6909, or on the internet at www.SandRidgeSecuritiesSettlement.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim by mail (postmarked no later than August 19, 2022) or if submitted electronically no later than August 19, 2022, establishing that you are entitled to recovery.  Unless the deadline is extended, your failure to submit your Proof of Claim by the above deadline will preclude you from receiving any payment from the Settlement.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is received no later than September 15, 2022, in the manner and form explained in the detailed Notice, referred to above.  All Members of the Class who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be mailed to each of the following recipients, received no later than September 22, 2022:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF OKLAHOMA
200 NW 4th Street
Oklahoma City, OK 73102

Lead Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
EVAN J. KAUFMAN
58 South Service Road, Suite 200
Melville, NY 11747

Counsel for Settling Defendants:

LATHAM & WATKINS LLP
STEVEN M. BAUER
505 Montgomery Street, Suite 2000
San Francisco, CA 94111

COVINGTON & BURLING LLP
MARK P. GIMBEL
620 Eighth Avenue
New York, NY 10018

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE OR SETTLING DEFENDANTS REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

DATED: June 3, 2022

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF OKLAHOMA

SOURCE// Robbins Geller Rudman & Dowd LLP

URL// www.SandRidgeSecuritiesSettlement.com

SOURCE Robbins Geller Rudman & Dowd LLP