TPG-Axon Files Lawsuit in SandRidge Board Battle

Hedge fund TPG-Axon Capital moved ahead with its effort to oust the board of U.S. oil and gas company SandRidge Energy Inc., saying it would file consent solicitation documents with U.S. regulators on Monday. TPG-Axon, which owns 6.7 percent of SandRidge, said in its third letter to the company's board, dated Dec. 24, that it is giving shareholders a chance to "terminate your reign of value destruction". It first revealed its plan last month.

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