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Tuesday, July 1, 2014

Chesapeake Energy Pleads Not Guilty in Michigan Racketeering Case

From Bloomberg:
Chesapeake Energy Corp. (CHK), already facing antitrust claims in Michigan over bids on gas exploration rights, pleaded not guilty to charges that it lied to landowners about leases it took out on their property. 
Representatives of the Oklahoma City-based company entered the plea to racketeering and fraud charges today in Michigan state court in Cheboygan. 
Michigan Attorney General Bill Schuette accused Chesapeake, the second-biggest U.S. natural gas producer, of tying up landowners in 2010 by telling them existing mortgages were no barrier to leasing their properties, then citing those same mortgages as justification for canceling almost all the leases after competition for them ceased.
You can read the rest of that article here.


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