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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by Chesapeake Energy Corporation

Wednesday, April 18, 2012 6:28 PM


Levi & Korsinsky is investigating potential claims against the board of directors of Chesapeake Energy Corporation (“Chesapeake” or the “Company”) (NYSE: CHK) concerning whether the board of directors breached its fiduciary duty to shareholders.

For more information, click here: http://www.zlk.com/chesapeake-energy-chk.

The investigation stems from reports that the Company’s Chairman and CEO, Aubrey McClendon, used his stakes in Company wells as collateral to finance his share of the well costs. Reports indicate that McClendon took out more than $1.1 billion in loans which were never disclosed to Chesapeake shareholders. Shares of Chesapeake stock fell more than 5% following this revelation.

If you own Chesapeake stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

(Source: Business Wire )
(Source: Quotemedia)

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