EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Chesapeake Energy Corporation – CHK
April 04 2016 - 8:02PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of individuals who
beneficially hold Chesapeake Energy Corporation (NYSE:CHK) 6.875%
senior notes due 2020 and 6.125% senior notes due 2021 (“Class
Notes”) from December 31, 2015 to the present. The lawsuit seeks to
recover damages for Chesapeake Energy Corporation investors.
To join the Chesapeake Energy Corporation class action, go to
the firm’s website at http://www.rosenlegal.com/cases-850.html or
call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at
866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Chesapeake Energy Corporation
announced a proposed private debt exchange on December 2, 2015 (the
“Exchange Offer”) to exchange and replace certain Class Notes and
certain other notes for newly-issued 8.00% Second Lien Senior
Secured Notes due 2022 (the “8.00% 2L Notes”). Chesapeake Energy
Corporation’s pursuit of the Exchange Offer benefited only
themselves and a minority of holders of Class Notes and violated
the implied covenant of good faith and fair dealing. The
obligations in the Class Notes were made subordinate to the
obligations in the 8.00% 2L Notes, impairing class members' right
to receive payment of the principal and interest under the Class
Notes and the right to sue to compel such payment. The Exchange
Offer allowed Chesapeake Energy Corporation to unjustly enrich
itself by reducing its indebtedness at the expense of the class
members.
A class action lawsuit has already been filed. If you wish to
join the litigation, go to the firm’s website at
http://www.rosenlegal.com/cases-850.html or to discuss your rights
or interests regarding this class action, please contact Phillip
Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation. Attorney Advertising. Prior
results do not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20160404006730/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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