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Chesapeake Lawsuit Continues as United States Senate Calls for Fraud Probe

Chesapeake lawsuit on behalf of Shareholders continues as Chesapeake CEO states He is “deeply sorry” for recent Chesapeake scandal. Chesapeake Investors or Shareholders are encouraged to call (888) 252-0048 to discuss their potential rights for recovery or to join in the suit.

About the Chesapeake Lawsuit

Chesapeake Lawsuit Prompts U.S. Senate Fraud Probe

Chesapeake Lawsuit Prompts U.S. Senate Fraud Probe

Shareholders filed a Chesapeake Lawsuit recently concerning over $1 billion dollars in personal loans taken out over the past three years. These personal loans were previously undisclosed to shareholders and raised concerns that McClendon’s personal financial deals could compromise his fiduciary duty to Chesapeake. McClendon’s biggest personal lender, EIG Global Energy Partners, has also been a big financier to Chesapeake and the lawsuit says that some analysts believe EIG’s investors have been given favorable terms from the company on financing deals. The Chesapeake lawsuit seeks an order requiring the defendants to disclose all information about McClendon’s loans, and establish a method of reviewing his borrowings, among other things.

About the Chesapeake Scandal

Chesapeake CEO, Aubrey McClendon and eight other company executives are being accused of racking up $1.1 billion in loans against their own investments in Chesapeake Energy. These loans raise serious questions regarding conflicts of interest, and can frequently cloud the judgment of Chesapeake executives on issues ranging from cash flow, operating wells, and aggressive bargaining with financing deals. Recently, McClendon made his first public statements concerning these personal loans to investors in a conference call since news broke last month that he had taken out $1.1 billion in personal loans secured by personal interests in thousands of Chesapeake wells.

How To Join The Chesapeake Lawsuit

Chesapeake Investors that currently own shares of Chesapeake common stock are encouraged to contact the securities lawyers at Gilman Law LLP to join in the Chesapeake Lawsuit or to discuss their potential rights to recovery. Our team of experienced securities lawyers are offering free case reviews to investors in Chesapeake Energy. To receive a free case review, please complete our free consultation form online or call TOLL FREE at (888) 252-0048 to speak with one of our securities lawyers.