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SandRidge to probe CEO deals

Oil and natural gas company SandRidge Energy (SD) promoted David Lawler to chief operating officer and hired law firm Mayer Brown to review allegations of inappropriate land deals by CEO Tom Ward and his family. The moves come a month after SandRidge ended a proxy battle with activist hedge fund TPG-Axon Capital, and agreed to terminate Ward or give TPG-Axon-backed directors majority control of its board. SandRidge has until June 30 to decide whether to fire Ward. Shares rose 3% to 5.11.