Activist Investor Asks $SD’s Board to Investigate CEO Ward and Front Running

” 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…”

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