NEW YORK, Nov. 11, 2014 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Western District of Oklahoma on behalf of those who purchased shares of SandRidge Energy, Inc. ("SandRidge" or the "Company") ( NYSE:SD), during the period between March 1, 2013 and November 4, 2014, inclusive (the "Class Period").
The complaint charges SandRidge Energy and certain of its executives with violations of federal securities laws. According to the lawsuit, SandRidge Energy issued materially false and misleading financial information to shareholders. On November 4, 2014, the Company disclosed that the Securities and Exchange Commission (the "SEC") has asked it to reassess how it accounts for penalties paid under an agreement with Occidental Petroleum Corp. As a result, the Audit Committee of the Board of Directors of the Company has concluded that the consolidated financial statements included in the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as applicable, filed for periods ended December 31, 2012, March 31, 2013, June 30, 2013, September 30, 2013, December 31, 2013, March 31, 2014, and June 30, 2014 cannot be relied upon until resolution of this matter.
The lawsuit claims that when these adverse facts entered the market, the price of the Company's stock dropped damaging investors.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of SandRidge Energy during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in SandRidge Energy you have until January 12, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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