NEW YORK, April 18, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) 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, Company stock had fallen nearly 10% by midday following revelations that the Company's CEO, Aubrey McClendon, has borrowed up to $1.1 billion in previously undisclosed loans secured against stakes in the company's wells. 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:
Benjamin Sachs-Michaels Robert I. Harwood, Esq. Matthew M. Houston, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212) 935-7400 Email: [email protected] Website: http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.