TPG-Axon Issues Statement on Delaware Court Ruling that SandRidge Energy's Board of Directors Violated its Fiduciary Duty - SandRidge Energy (NYSE:SD)

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TPG-Axon, beneficial owner of 7.3 percent of the outstanding shares of SandRidge Energy (NYSE: SD) (“SandRidge” or the “Company”), noted Delaware Chancery Court Judge Leo E. Strine Jr.'s ruling that SandRidge Energy's Board of Directors violated its fiduciary duty to shareholders by refusing to approve TPG-Axon's slate of highly-qualified director nominees for purposes of the Company's "Proxy Puts". As a result of this "fundamental offense to the dignity of the corporate office," the Court barred SandRidge from continuing to solicit consent revocations until TPG-Axon's director nominees are approved for purposes of the Proxy Puts and invalidated all consent revocations already received. In regards to the ruling, TPG-Axon

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