Hagens Berman Sobol Shapiro LLP, reminds investors with significant losses in Chesapeake Energy Corporation (“Chesapeake”) (NYSE:CHK) who wish to move the Court to be a lead plaintiff, that the deadline for so moving is June 25, 2012. In addition, a recently filed complaint has expanded the class period to cover the losses of those who purchased stock between April 30, 2009 and May 10, 2012.
Investors who purchased or otherwise acquired shares of Chesapeake common stock between April 30, 2009, and May 10, 2012 (the “class period”), and who suffered significant losses are encouraged to contact Hagens Berman Partner Reed Kathrein by calling (510) 725-3000. Mr. Kathrein is leading Hagens Berman’s investigation. Investors may also contact the firm via email at CHK@hbsslaw.com. More information is available at http://hb-securities.com/investigations/Chesapeake-Energy-Corporation.
The class actions filed against Chesapeake Energy Corporation (“Chesapeake”) (NYSE:CHK) allege that Chesapeake failed to disclose that its CEO, Aubrey McClendon, had taken out more than $1 billion in loans from Chesapeake’s vendors in order to finance personal interests in wells co-owned by Chesapeake. Chesapeake’s stock has dropped over 50% over the last year, and since the disclosure of these and other facts, has dropped from its April 17, 2012 close at $19.12 to close on May 11, 2012 at $14.81. Mr. McClendon is a defendant, as well as the company, members of executive management, and the board of directors.
The deadline to move to be a lead plaintiff is June 25, 2012. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.“Investors are understandably troubled that McClendon’s non-recourse loans created a conflict of interest and a personal benefit that may have clouded his judgment and reduced his own personal risk,” said Mr. Kathrein. “We believe that these undisclosed conflicts impeded Mr. McClendon’s judgment and have resulted in management decisions which have had an adverse impact on Chesapeake’s business and risk profile.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV