Robbins Geller Gets Class Certified in SandRidge Energy Securities Class Action
On September 30, 2019, the Honorable Charles B. Goodwin of the United States District Court for the Western District of Oklahoma certified a class of investors in In re SandRidge Energy, Inc. Securities Litigation and appointed Robbins Geller as class counsel.
SandRidge is an independent natural gas and oil company in the United States that operates in exploration and production, drilling and oil field services, and midstream services. The case centers around one of the company’s core holdings, referred to as the Mississippian, a geological formation that extends hundreds of miles across northern Oklahoma and south-central Kansas. The case alleges that SandRidge and certain SandRidge officers violated the Securities Exchange Act of 1934, and that throughout the February 24, 2011 through November 8, 2012 class period, defendants issued materially false and misleading statements and omitted material information concerning SandRidge’s oil and gas reserves and the economics of the Mississippian. Specifically, plaintiffs allege, among other things, that defendants overstated the amount of recoverable oil reserves as well as the amount of oil relative to less profitable natural gas.
In certifying a class and appointing Robbins Geller as class counsel, the court commended the Firm, stating that “the attorneys of Robbins Geller are experienced class-action litigators and are sufficiently committed to this litigation.”
In re SandRidge Energy, Inc. Sec. Litig., No. 5:12-cv-1341-G, Order (W.D. Okla. Sept. 30, 2019).