U.S. Markets closed

TPG-Axon: Glass Lewis recommends SandRidge investors replace majority of board

TPG-Axon, beneficial owner of 7% of the outstanding shares of SandRidge Energy, announced that Glass, Lewis & Co. has recommended SandRidge stockholders vote the GREEN consent card in support of TPG-Axon’s proposals. Specifically, Glass Lewis recommends SandRidge’s bylaws be amended to destagger the Board, that six incumbent directors be removed, including SandRidge CEO Tom Ward, and that independent director nominees Stephen C. Beasley, Edward W. Moneypenny, Dinakar Singh, Alan J. Weber, Dan A. Westbrook and Peter H. Rothschild be elected to the Board. Glass Lewis also recommends stockholders NOT VOTE the white consent card provided by SandRidge.