A top SandRidge Energy Inc investor called on the company's board to investigate allegations that Chief Executive Tom Ward and a company run by his son engaged in "persistent front running of the company."Mount Kellett Capital, which holds about 4.5 percent in SandRidge, said in a letter on Thursday that it was reviewing allegations by another investor, TPG-Axon, that Ward and his son acquired mineral rights and sold them to SandRidge or other oil and gas companies at a profit.It said the company's board should hire an independent law firm and a forensic law firm to look into the allegations, and that Ward should be suspended until completion of the probe.WCT Resources - an Oklahoma company owned by trusts benefiting Ward's three adult children and run by his son, Trent - is a business partner with SandRidge, according to SEC filings.
The Children's Place Retail Stores, Inc. operates as a specialty retailer of apparel and accessories for children. Shares of PLCE traded higher by 3.59% or $1.74/share to $50.20. In the past year, the shares have traded as low as $42.21 and as high as $62.24. On average, 489713 shares of PLCE exchange hands on a given day and today's volume is recorded at 289701.
SandRidge Energy, Inc. (SandRidge) is an independent oil and natural gas company. Shares of SD traded higher by 2.06% or $0.1396/share to $6.93. In the past year, the shares have traded as low as $4.81 and as high as $8.98. On average, 14938200 shares of SD exchange hands on a given day and today's volume is recorded at 1743392.
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