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Chesapeake Energy Corp.
CHK accused its founder and former chief executive Aubrey McClendon of misappropriating information.
In a law suit, reportedly filed Tuesday at Oklahoma County District Court, the company alleges that McClendon used stolen information to form American Energy Partners LP in 2013.
Chesapeake, the second-largest natural gas producer in the U.S., changed hands recently at $21.25 a share, up $0.17 cents.
McClendon vowed to defend the suit, which called "beyond belief.
McClendon that contracts with Chesapeake entitled him to information he acquired from the company.
http://www.americanenergypartners.com/news/aubrey-k-mcclendon-and-american-energy-partners-lp-respond-to-chesapeake-energy-corporations-baseless-claims-and-will-assert-their-own-claims-against-chesapeake-for-failing-to-honor-its-contractual-obligations
McClendon was ousted from Chesapeake in 2012 amid questions about his use of company employees for personal projects.
A federal anti-trust investigation of Chesapeake is ongoing, while trials in Michigan against the company are pending concerning state charges of bid-rigging and false pretense.
Chesapeake has said the charges concern "legitimate business practices."
In April, the Securities and Exchange Commission closed an 16-month investigation of Chesapeake and McClendon without taking enforcement action. The investigation concerned McClendon's private investment in Chesapeake projects that he used as collateral for personal loans.
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