TPG-Axon pushing for SandRidge board ouster

SandRidge energy: Shareholders in revolt seek replacement of company board and chief executive Tom Ward

TPG-Axon Capital Management has released a slate of nominees to SandRidge Energy’s board of directors as the New York hedge fund seeks to overhaul the company's current leadership.

TPG-Axon filed consent-solicitation documents with the US Securities and Exchange Commission on Wednesday seeking shareholder approval to change the energy company's bylaws and replace its entire board of directors, including chief executive Tom Ward, Dow Jones reported.

The timing of the filing relates to a lawsuit TPG-Axon filed Monday over how much time shareholders have to consider TPG-Axon's proposals, according to the news wire.

In a 21 December filing with the SEC, SandRidge declared an initial consent-documents date of 19 December, starting the 60-day clock for shareholders to submit their written consent for…

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