DALLAS, April 18, 2012 /PRNewswire/ -- Branham Law, LLP, is investigating potential claims against the board of directors of Chesapeake Energy Corp. ("Chesapeake" or the "Company") (NYSE: CHK), concerning whether the board has breached its fiduciary duties to shareholders.
On April 18, 2012, after revealing that the Company CEO, Aubrey McClendon, borrowed up to $1.1 billion in previously undisclosed loans secured against stakes in the company wells, Chesapeake stock had fallen nearly 10% as of midday. McClendon reportedly borrowed the money to personally invest in wells drilled by the Company. The loans were never disclosed to Company shareholders.
Our investigation concerns whether the Chesapeake board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Chesapeake shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
SOURCE Branham Law, LLP