INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Chesapeake Ener...
October 17 2016 - 3:06PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Western
District of Oklahoma on behalf of purchasers of Chesapeake Energy
Corporation (NYSE: CHK) (“Chesapeake” or the “Company”) securities
during the period between February 27, 2015 and September 28, 2016,
inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until December 5, 2016
to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Chesapeake securities during the Class Period.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff. No class has yet been
certified in the above action.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that Chesapeake had
improperly accounted for the acquisition and classification of oil
and gas properties and lacked effective internal financial
controls.
According to the complaint, following a September 29, 2016
announcement of a receipt of a subpoena from the U.S.
Department of Justice seeking information on the accounting
methodology for the acquisition and classification of oil and gas
properties and related matters, the value of Chesapeake shares
declined significantly.
If you have suffered a loss in excess of $100,000 from
investment in Chesapeake securities purchased on or after February
27, 2015 and held through the revelation of negative information
during and/or at the end of the Class Period and would like to
learn more about this lawsuit and your ability to participate as a
lead plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
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version on businesswire.com: http://www.businesswire.com/news/home/20161017006398/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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