Do you think their stock will go down if the Ad Hoc committee wins the appeal since we are seeing more and more articles like this one from Forbes? It's pretty obvious they were never bankrupt.

Now I have one more reason to hate Wells Fargo. I think this is something that Elizabeth Warren needs to hear about. She hates Wells Fargo too and a combination Wells Fargo Sandridge bullying of the little guy will be hell to pay. I'd really rather own a portion of Wells Fargo anyway since Sandridge is really pretty much small potatoes in comparison.

That Gupta is one heck of a lawyer. I think he confounds about a dozen or so over at Kirkland. One or two counting Susan at Baker Donelson, against a dozen or more over at Kirkland. That's about right.

One other thing the judge did and perhaps this is not unusual but it could take 300,000 to 500,000 bond for an appeal. I believe the shareholders lawyers have found a way around this. I am uncertain at this time but nevertheless, the judge was doing everything in his power to protect these vermin.

I agree with you but it seems like this court is known to have ruled like this before, I don't know if it has been to this extent. This judge and I mean judge with a small j, sewed this up so that these thieves are untouchable at this time, but as you say, will it hold up. Probably not. I can't believe anyone would rule like this especially with an ongoing SEC investigation and making their expert witness look like a fool on the stand. There is something that just isn't right here and someone able to do something about it will pick up on it. Probably the SEC if and appeal is denied. These guys are going to go down and they are going to go down hard. They are no different than Worldcom or Enron. I see jail time coming.

I don't really think it is all about the shares anymore. During the bk proceedings the judge ruled that the co or it's bod could not be sued. If that ruling is overturned then class action lawsuits will be allowed which in all likelihood will take Sandridge along with it's sorry management down.I couldn't say for sure but I imagine these folks that broke the law are very worried about that.

I personally always liked Tom's disguise. Who would think someone with horn rimmed glasses and a pocket protector would rip anyone off?

Chevy,
I will ask ypu the same type question that our lawyer asked the bogus valuation expert for HL/SD. Are you a lawyer, or have you received any type of training that qualifies you to make the ascertion you are making or or you a short hoping like hell you are on to some type of technicality? I will tell up front that I do not have any of this type trainig, unless my son-in-law counts, but I do have common sense and I believe this was a ridiculous verdict that needs to be challenged.

One thing I have to say for Don Sable. The man has balls.

The last one out, turn out the lights.

So very true. Not only mismanaged but not trustworthy. To become a pariah in the oil patch

You remember what Yogi said about it not being over.

I was up and down like everyone else but really the odds were overwhelming that it would go this way but I also have felt all along that we will hear this again. I think one day we will recieve those forms in the mail where a class action suit is being persued. Maybe it can't happen but who knows. These are bad people and they will have problems going forward. It has OJ Simpson written all over it.

I'm thinking the same thing. If the judge knew it was lost long ago, why even have the trial, hearing, or whatever it was?

But you can't lie and commit fraud to get rid of the preferreds.

That Porgie is Sandridge's problem, not the common shareholders.

There is one other possibility kingman. Stupidity.

Diesel Joe,
You are missing the point. No one here disagrees that if a company is bankrupt that the commons lose out. What our case evolves is that Sandridge is not BK but rather being dishonest and fraudulent. In that case the commons have as many rights as any other stakeholder in the company. Now I realize that is hard to prove but Sandridge is so obviously crooked that it just might happen.

Thank you guys for all the commentary Tuesday. I and many others are looking forward to today's reports.

Thank you for your thoughts ThreeHorse. You seem very knowledgeable concerning these matters. I personally don't know how much more is to come but I do believe that the shareholders, thanks to the shareholders committee and many others who felt this was very wrong and betrayed by management, we have turned the corner. I like to quote Yogi, and as he put it so well, "It ain't over till its over" but I think it's a lot closer than in was.

He works for Baker Donelson et al and I think the market was either closed or very close to it by the time Ken opened up the can of whoop ass.

I agree stockboy. I believe that slick big city lawyer put a woopin on the guy from Houligan and Sandridge by way of him. I'm telling you, the Fat Lady has already sung and it sounded pretty sweet.

Sounds like stuff the judge has already heard before. Kirkland and whatever that other dumbass company is may not have prepared that well because they probably did not think Judge Jones would recognize the Shareholders Committee and it would be a cake walk.

I wonder if the presentation is a glowing report like the ones Sandridge use to give during their conference calls?

I'll bet if you put 100 people in a room it would be hard to find one thing that they all agreed on except that every man, woman, and child would would almost certainly agree that it is wrong to steal, I hope these people's asses get burned bad.

Just a hunch but I believe a deal will be worked out today.

I image if these guys had this to do over again they do the right thing and tough it out for the shareholders and everyone would have made money. Now their problems are just beginning. It's about to get really bad for these people in charge. They were crooks when Tom Ward was in charge and could have gotten away with it all except like all greedy people it wasn't enough. They should have stopped while they were ahead but their greed would not let them.

I agree JR that we should use the same tactics in a class action suit that Sandridge is trying to use here. They are trying to use the business friendly BK laws to steal the company. Now that it appears that the table is turning we can use the SEC investigation as our conduit to a class action suit later if need be. Regardless, I cannot see James Bennett being around much longer.

Know it alls are hard to deal with sometimes too.

This bunch of goofballs just keep digging a deeper hole. They have created a monster that is out of control now. There is no turning back. Either way they will spend millions in legal fees. What a waste of what could have been a hughly successful company. If only they had fought for us small common shareholders they would have also made fortunes themselves. They saw what they thought was an opportunity to steal the entire company. Now instead of commanding respect, most people who are aware of what has happened see them as thieves. If you will steal from school kids, you will certainly steal from anyone else. They deserve whatever they get.

Uh oh. Sandridge is in trouble with the SEC. More to come.

I have thought the same thing all along. This is not going to go away regardless of the ruling. Hopefully, the BK can be avoided altogether but if not eventually there will be an enormous class action suit that will also ultimately lead to jail time for many of those who brought this about. I have never seen a more greedy bunch but then I was not involved with Enron or Worldcom.

Same here JN but this my take. I say Sandridge will base their greedy decision on two things. First, on what they are forced to do. Second what will get them the most money once they know what they are forced to do. I think it's about that simple.


















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I agree JN. I'm not really sure about anything on this one anymore, although I was never really sure before either. Looking at the docket there are a whole lot of dissenters.I don't believe they will ever be able to all agree. Is that a good thing for the commons, who knows? Maybe something to grab onto. I just hope everyone gets what's coming to them, especially the lawyers, the BOD and Mr. Bennett. Double secret probation for him is not enough.

I can't understand why the Feds haven't stepped in. They should raid the offices and take the computers and anything else that will tell the story of what is really going on. This is criminal. Sell a loose pack of cigarettes on the corner and lose your life. Cheat people out of hundreds of millions of dollars and not a damn thing.

An extension should also give time for oil and gas to rise. If this is the case can you bankrupt a company that is making money? These people probably could but normally I don't think too many good companies would want to do that.

I agree. Ultimately everyone would make money. It's just that by pushing for the Chapter 11 procedings now a few greedy groups will make a fortune and they are quite aware of that and they are doing it because they can, or so they think.

What percentile would you say the people in jail fall into, after they pay their lawyers and all? In other words, to be more specific, what percentage would you say Jeff Skilling or Bernie Ebbers fall into? Just ask'n.

For some reason the school district, the one with the stupid kids, doesn't seem to agree with you since they are objecting to the plan. Even if you got lucky and were right the shareholders,and I know you are going to disagree, ARE GETTING SCREWED.

This thing is a mess. Sandridge management is in a whole lot of trouble.
Brings to mind the old cliche, "Out of the pan, into the fire", and you know what, I can't think of any group more deserving.

Mr.Chevy,
Not only is this comapany trying to screw a school district they are trying to screw some of the local goverments in Texas out of taxes. Got to give credit where credit is due. If they can screw the government out of taxes they can screw anybody.I'm not saying I respect them in the least but damn they are good thieves.