SandRidge’s Use of Controversial Ploy Backfires

The energy company grants TPG-Axon considerable concessions following court ruling against proxy put argument.

A recent court ruling on a proxy fight involving TPG-Axon Capital Management and SandRidge Energy may have handed the hedge fund manager a stunning reversal of fortune, but it also serves as a cautionary tale for corporate boards wanting to put up similar defenses in proxy wars.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.