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News Breaks | | | | January 25, 2013 | | 07:32 EDT |  | SD | SandRidge Energy board responds to related party allegations
"TPG-Axon Group has made allegations in public statements concerning certain activities of our Chairman and Chief Executive Officer, Tom Ward, and questioning the Board's oversight of those activities...The board has reviewed issues related to these allegations several times over the Company's history and has found no wrongdoing to have taken place... Mr. Ward has no control over the trusts or WCT Resources and does not participate in its management, operations or business. Thus, contrary to TPG-Axon's assertions, neither the Company nor Mr. Ward has the power to "allow" WCT Resources to engage in any business regardless of whether it competes with the Company. As an ongoing business not controlled by the Company or Mr. Ward, WCT Resources is free to engage in whatever commerce it deems suitable wherever it chooses." | |
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