The investor rights law firm of Richard A. Nervig, P.C. has launched an investigation and is offering free initial consultations to preferred and common stock investors of Sandridge Energy, Inc. (“Sandridge”) whose shares are subject to cancellation. Sandridge filed for bankruptcy on May 16, 2016 in the U.S. Bankruptcy Court, Southern District of Texas, Case No. # 16-32488 and pursuant to the Amended Joint Chapter 11 Plan approved by the Court on October 4, 2016, preferred and common stockholders will have their interests cancelled.
On October 20, 2016, the Enforcement Section of the Massachusetts Securities Division filed an administrative complaint against a securities brokerage and broker alleging among other things that certain retiree investors had their brokerage accounts unsuitably concentrated in Sandridge stock. See, https://www.sec.state.ma.us/sct/current/sctspartanrevere/Spartan-10-20-16.pdf.
Stock interests like those issued by Sandridge are typically risky investments suitable only for the most risk tolerant individuals willing to accept a substantial loss on their investment. Retirees and other risk averse individuals are typically not suitable for such investments. If you were an investor in Sandridge securities now subject to cancellation and you purchased such based upon the advice and recommendation of a broker and/or brokerage firm and you believe the investment may not have been suitable for your investment needs and/or if you believe you were not provided all information necessary for you to make an informed investment decision, my firm would like to speak to you about your investments.
To learn more about your legal rights and remedies, please contact Richard A. Nervig (email@example.com) at 760-451-2300. If you email, please include your phone number.
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