Legal Opinion
Kallick v. Sandridge Energy, Inc.
Court of Chancery of Delaware
Decided March 8, 2013No. CIV.A. 8182-CSPublishedCited by 13 opinions
1Opinion of the Court
*244OPINION
STRINE, Chancellor.
The incumbent management and board of SandRidge Energy, an oil and natural gas business focusing on domestic exploration and production, face a serious proxy fight. A hedge fund, TPG-Axon (“TPG”), which holds a 7% stake in SandRidge, has launched a consent solicitation to destag-ger SandRidge’s seven-member board by amending the company’s bylaws,1 remove all the directors, and install its own slate.2 TPG claims that SandRidge’s performance has been abysmal during the past six years, resulting in a performance that is extremely poor in comparison to other U.S. oil and…
2Cases cited21 opinions
- Adarand Constructors, Inc. v. PenaSupreme Court of the United States · 1995
- Aronson v. LewisSupreme Court of Delaware · 1984
- United States v. Playboy Entertainment Group, Inc.Supreme Court of the United States · 2000
- Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.Supreme Court of Delaware · 1986
- Unocal Corp. v. Mesa Petroleum Co.Supreme Court of Delaware · 1985
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3Cited by13 opinions
- Pell v. KillCourt of Chancery of Delaware · 2016
- Black v. BriceDistrict Court, W.D. North Carolina · 2025
- Coster v. UIP Companies, Inc.Supreme Court of Delaware · 2023
- In re Allergan, Inc. Stockholder LitigationCourt of Chancery of Delaware · 2014
- In re McDonald's Corporation Stockholder Derivative LitigationCourt of Chancery of Delaware · 2023
8 more not listed; retrieve them via the Exa API.