Judge: Fracking Company Shareholder Lawsuit Valid; Illegal Activity Suggested
Mealey's (June 18, 2015, 4:34 PM EDT) -- OKLAHOMA CITY — A federal judge in Oklahoma on Sept. 22, 2014, denied a motion to dismiss a shareholder derivative lawsuit brought by plaintiffs who own shares in a hydraulic fracturing company, concluding that they alleged facts that when taken as a whole suggest illegal conduct by individuals who allegedly diverted fracking opportunities to a rival company (In Re: Sandridge Energy Inc. Shareholder Derivative Litigation, No. 13-102, W.D. Okla.; 2014 U.S. Dist. LEXIS 132330).