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4 years ago
TPG-Axon wants experts to review SandRidge CEO's land deals
January 28, 2013 / 12:55 PM / 4 years ago

TPG-Axon wants experts to review SandRidge CEO's land deals

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Jan 28 (Reuters) - Hedge fund TPG-Axon, one of SandRidge Energy Inc's top shareholders, asked the oil and gas company's board to engage "credible experts" to review land deals involving entities controlled by Chief Executive Tom Ward and his family and re-iterated its call to suspend the CEO.

SandRidge's board said on Friday it had reviewed the deals and had found no wrongdoing.

"For the board to dismiss our concerns as 'entirely unremarkable' is in fact remarkable," TPG-Axon said on Monday, responding to the board's findings.

"We challenge the board to either do something, or make clear they will not," said the hedge fund, which owns 6.7 percent of the company.

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