An Oklahoma City-based oil and gas company has agreed to pay $1.4 million to settle charges with the Securities and Exchange Commission (SEC) that it used illegal separation agreements and retaliated against a whistleblower who expressed concerns internally about how the company’s reserves were being calculated. According to the SEC, after a new whistleblower protection rule became effective in August 2011, SandRidge Energy Inc. conducted multiple reviews of its separation agreements, which lay out the terms of separation between a company and an employee, board member, or contractor. Despite these reviews, the company continued to routinely prohibit outgoing employees from ... Read More
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