NEW YORK, Nov. 4, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Sandridge Energy, Inc. ("Sandridge" or the "Company") (NYSE: SD -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at info@bgandg.com or 212-697-6484.
The investigation concerns whether Sandridge and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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 company also said it would postpone the announcement of its third-quarter earnings until it reviews the situation and comes to a resolution with the SEC.
On this news, shares of Sandridge fell $0.26 per share, or 6.82% during intraday trading to trade at $3.55 per share on November 4, 2014.
If you are aware of any facts relating to this investigation, or purchased shares of Sandridge, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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