On or around 10/06/2010 (Notice of voluntarily dismissal)
Filing Date: April 26, 2010
According to the complaint, Plaintiff brings this action on behalf of the public stockholders of Arena Resources, Inc. (“Arena” or the “Company”) against Arena and its Board of Directors (the“Board”) seeking equitable relief for their violations of Rule 14a-9(a) (“Rule 14a-9”) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), breaches of fiduciary duty and other violations of state law arising out of their attempt to sell the Company to SandRidge Energy, Inc. and Steel Subsidiary Corporation (collectively “SandRidge”) by means of an unfair process, for an unfair price of 4.7771 shares of SandRidge common stock and $2.50 in cash for each share of Arena common stock, and without adequate disclosure (the “Proposed Transaction”). Based on the closing price of SandRidge common stock the day prior to the announcement of the Proposed Transaction, the Proposed Transaction is valued at approximately $1.6 billion.
On October 4, 2010, the Plaintiff filed a Notice Of Dismissal pursuant to Rule 41(a)(1) of the Federal Rules of Civil Procedure, voluntarily dismissing with prejudice his claims against all Defendants.
Company & Securities Information
Defendant: Arena Resources, Inc.
Industry: Oil & Gas Operations
Headquarters: United States
Ticker Symbol: ARD
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.