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TPG-Axon Capital Files Lawsuit Against Energy Company

Dec 26, 2012
Jing Chen

Hedge fund firm TPG-Axon Capital Management announced Monday that it has filed a lawsuit against oil and gas company SandRidge Energy.

New York-based TPG-Axon, which owns about 6.7% of the oil and gas company’s outstanding shares, accused SandRidge CEO Tom Ward of “[resorting] to shameful tricks to try and confuse shareholders and shorten the period of time in which they have to vote” on proposed amendments to the company’s bylaws.

TPG-Axon also said that it plans to file consent solicitation documents with the Securities and Exchange Commission, and is looking to replace SandRidge’s entire Board of Directors with more “qualified” directors.

With additional offices in London, Hong Kong and Tokyo, TPG-Axon manages about $4 billion in assets.


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