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SandRidge Energy

Settlement of In re SandRidge Energy, Inc. Securities Litigation
No. 5:12-cv-01341-G

On December 30, 2022, Judge Charles B. Goodwin approved a settlement of this action pending in the United States District Court for the Western District of Oklahoma.  The settlement, reached after ten years of litigation, provides for the payment of $21,807,500 for the benefit of eligible Class Members.  Class Representatives Laborers Pension Trust Fund for Northern Nevada, Construction Laborers Pension Trust of Greater St. Louis, and Angelica Galkin alleged Defendants violated §§10(b) and 20(a) of the Securities Exchange Act of 1934 by misrepresenting and omitting material facts concerning the production, reserves, and economics of SandRidge Energy, Inc.’s (“SandRidge”) core holdings in an area referred to as the Mississippian play.  Class Representatives further alleged these misrepresentations and omissions caused an artificial inflation in the price of SandRidge common stock and that the price of SandRidge common stock declined when facts about Defendants’ misrepresentations and omissions were revealed to the public.

The Class consists of all persons and entities who purchased or otherwise acquired SandRidge common stock between February 24, 2011 and November 8, 2012, inclusive, and were damaged thereby.  Excluded from the Class are (i) Defendants; (ii) the officers and directors of SandRidge at all relevant times; (iii) members of the immediate family of Defendants; (iv) any person, firm, trust, corporation, officer, director or other individual or entity in which any Defendant has a controlling interest, or which is related to or affiliated with any of the Defendants; (v) Defendants’ liability insurance carriers and any affiliates or subsidiaries thereof; and (vi) the legal representatives, agents, affiliates, heirs, successors-in-interest, or assigns of any such excluded party.  Also excluded from the Class are those Persons who timely and validly requested exclusion from the Class pursuant to the requirements set forth in the Notice.

If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.

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