Chesapeake Energy Corp. Says Ousted Founder Stole Data

Chesapeake Energy Corp.

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.