March 16, 2016
Chesapeake Energy, Chesapeake Exploration, SandRidge Energy and other defendants were named in a class action filed by landowners alleging antitrust violations and bid rigging designed to depress prices the companies paid the landowners to lease properties for drilling.
Earlier in March 2016, the Department of Justice issued a criminal indictment against Aubrey McClendon, former CEO and chairman of Chesapeake Energy. The indictment alleges that McClendon and others conspired to rig bids and cheat landowners.
McClendon died in a fiery car accident that is still being investigated the day after the indictment.
Chesapeake Energy (CHK), which was trading at over $31 less than 24 months ago, trades at under $5 today, as a result of the dramatic fall in oil prices.
Investors who were advised to take large positions in CHK or other energy investments no doubt have significant losses. If you believe you were misled or not fully apprised of the risks associated with these energy investments, contact us to discuss your options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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