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
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 II” 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).
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, please fill out the form below. 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 firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Trusts’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.