SOURCE: Faruqi & Faruqi, LLP

Faruqi & Faruqi, LLP

June 10, 2015 13:08 ET

SANDRIDGE INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Either SandRidge Mississippian Trust I or SandRidge Mississippian Trust II to Contact the Firm

NEW YORK, NY--(Marketwired - June 10, 2015) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in SandRidge Mississippian Trust I ("Trust I" or the "Company A") (NYSE: SDT) and/or SandRidge Mississippian Trust II ("Trust I" or the "Company B") (NYSE: SDR) of the August 10, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against both Companies and certain officers. A complaint has been filed in U.S. District Court for the Western District of Oklahoma.

According to the lawsuit, defendants made false and/or misleading statements and failed to disclose that: (1) the underlying properties from which the royalty interests were conveyed to both Companies consisted of far more low-margin natural gas deposits and far fewer high-margin oil deposits, and (2) the reserves of oil in the underlying properties associated with both Trust I and Trust II were vastly overstated.

When the true details entered the market, the units of Trust I declined from $18.95 on November 8 to close at $17.54 on November 9 (a 7.4% decline and a 42.5% decline from the Class Period high of $30.46 per share reached on February 9, 2012).

Meanwhile, the units of Trust II declined from $19.36 per unit on November 8 to close at $17.70 per unit on November 9 (a decline of more than 8.5% and a 13.6% decline from the Class Period high of $20.48 per share reached on April 27, 2012).

Request more information now by clicking here: www.faruqilaw.com/SDR. There is no cost or obligation to you.

Take Action

If you invested in Trust I stock or options between April 7, 2011 through November 8, 2012, and/or if you invested in Trust II stock or options between April 17, 2012 and November 8, 2012, and would like to discuss your legal rights, visit www.faruqilaw.com/SDR. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Trusts' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Email contact
    Telephone: (877) 247-4292 or (212) 983-9330