Sanchez Energy Corporation
Robbins Umeda LLP Announces an Investigation of Sanchez Energy Corporation
Robbins Umeda LLP is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Sanchez Energy Corporation (NYSE: SN). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
Robbins Umeda LLP is investigating whether officers and directors of Sanchez Energy breached their fiduciary duties to shareholders by approving several related party transactions that cost the company millions of dollars. In documents recently filed with the U.S. Securities and Exchange Commission (“SEC”), the board of Sanchez Energy disclosed that it had approved grants of restricted stock to several individuals directly related to Antonio R. Sanchez, III, the Chairman and Chief Executive Officer of the company. According to SEC filings, the board granted more than 850,000 shares of Sanchez Energy stock, valued at approximately $14.7 million, to relatives of Mr. Sanchez, including his father and several brothers.
Robbins Umeda LLP highlights that Sanchez Energy shareholders have the option to file a shareholder derivative action to hold those officers and directors accountable for damaging the company. Remedies commonly sought in derivative actions include corporate governance reforms designed to prevent future misconduct, removal of officers or directors whose misconduct injured the corporation, and monetary payments in the form of damages and disgorgement of ill-gotten gains.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.