NEW YORK, March 2, 2016 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Chesapeake Energy Corporation (“Chesapeake Energy” or the “Company”) (NYSE: CHK). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Chesapeake Energy and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 1, 2016, a federal grand jury indicted Chesapeake Energy’s former chief executive officer Aubrey McClendon on charges of conspiring with an unnamed company to rig the price of oil and gas leases in Oklahoma. The indictment alleged that McClendon orchestrated a campaign to keep bid prices down from 2007 to 2012, while he was CEO of Chesapeake Energy, amid a land-leasing boom across the U.S.
On this news, Chesapeake Energy stock has fallen as much as $0.14, or more than 5%, to $2.62 during intraday trading on March 2, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP