Pittsburgh Law Office of Alfred G. Yates Jr., P.C. Files Class
Action Lawsuit On Behalf of Shareholders of SandRidge Energy (SD)
and Announces Investigations of Ameristar Casinos (ASCA), Arbitron
(ARB), Bankrate (RATE), CommonWealth REIT (CWH), Duff & Phelps
(DUF), Envivio (ENVI), FirstCity Financial (FCFC), Greenbrier
(GBX), Groupon (GRPN), and VeriFone Systems (PAY)
PITTSBURGH, Jan. 8, 2013 /PRNewswire/ -- Notice is
hereby given by the Law Office of Alfred G.
Yates Jr., P.C. that it has filed a class action in the
United States District Court for the Western District of
Oklahoma, # 5:13-cv-00019, on
behalf of all persons or entities who purchased the securities of
SandRidge Energy, Inc. ("SandRidge" or the "Company") (NYSE: SD)
between February 24, 2011 and
November 8, 2012 (the "Class
Period").
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact
plaintiff's counsel, Alfred G. Yates
Jr., at 1-800-391-5164, toll free, or at yateslaw@aol.com by
e-mail. Please visit http://yatesclassactionlaw.com. Any member of
the putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. If you wish to serve as lead
plaintiff, you must move the Court no later than February 4, 2013.
The Complaint alleges that defendants shocked the market by
disclosing that they had been grossly overstating the proportion of
oil-producing versus natural gas producing assets in the Company's
Mississippian formation throughout the Class Period.
Defendants also disclosed that they intended to sell the remaining
interest in the Company's Permerian Basin assets, though those
assets were the Company's highest-margin oil producing
assets.
On this news, SandRidge's stock fell precipitously from its
November 8, 2012 closing price of
$6.10 per share to close at
$5.51 per share on November 9, 2012, or 9%, on extremely high volume
of more than six times the average daily trading volume over the
prior three month period.
Plaintiff seeks to recover damages on behalf of all purchasers
of SandRidge securities during the Class Period (the "Class").
The firm is also investigating actions on behalf of shareholders
for the following companies: Ameristar Casinos, Inc. (Nasdaq:
ASCA), Arbitron Inc. (NYSE: ARB), Bankrate, Inc. (NYSE: RATE),
CommonWealth REIT (NYSE: CWH), Duff & Phelps Corporation (NYSE:
DUF), Envivio, Inc. (Nasdaq: ENVI), FirstCity Financial Corporation
(Nasdaq: FCFC), The Greenbrier Companies, Inc. (NYSE: GBX),
Groupon, Inc. (Nasdaq: GRPN), and VeriFone Systems, Inc. (NYSE:
PAY).
If you are a shareholder of any of the above companies and wish
learn more about any of the investigations or have any questions,
please contact Alfred G. Yates Jr.,
Esquire at 1-800-391-5164, toll free, or at yateslaw@aol.com
by e-mail.
Contact:
Alfred G. Yates, Jr.
(412) 391-5164 or Toll Free:
1(800) 391-5164, fax (412) 471-1033
website: http://yatesclassactionlaw.com
email: yateslaw@aol.com
SOURCE Alfred Yates, Esq.