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US Judge Denies Request to Postpone Chesapeake Annual Meeting

By Angel Gonzalez A U.S. judge in Oklahoma rejected Wednesday a shareholder attempt to delay Chesapeake Energy Corp.'s (CHK) annual shareholders meeting. The plaintiffs, which included the Deborah G. Mallow IRA SEP Investment Plan and other shareholders, argued that Chesapeake, the second-largest U.S. natural gas producer, failed to disclose in its proxy materials information needed for a "fully informed vote" at the company's annual meeting. That information was related to loans taken by Chief Executive Aubrey McClendon from financial institutions that had dealt with Chesapeake in order to fund his private participation in wells drilled by the company. The shareholder meeting will be held in Chesapeake's Oklahoma City campus on Friday. The U.S. court for the Western District of Oklahoma said that the plaintiffs couldn't prove they'd suffer "irreparable injury" if the injunction was denied. The decision comes as Chesapeake has announced a broad overhaul of its governance, in the face of shareholder criticism about the loans and concerns about the company's ability to finance its ambitious drilling plans. Chesapeake Monday said it would add to its board four director chosen by two of its largest shareholders. Mr. McClendon will step down as chairman of the board once an independent chairman is chosen, but he will remain CEO and a director. Write to Angel Gonzalez at angel.gonzalez@dowjones.com

Stock News for Chesapeake (CHK)
DateTimeHeadline
12/06/201620:51:00Chesapeake Energy Corporation Announces Pricing And Upsizing...
12/06/201608:04:00Chesapeake Energy Corporation Announces Cash Tender Offers For...
12/06/201608:02:00Chesapeake Energy Corporation Announces Cash Tender Offers For...
12/06/201607:59:00Chesapeake Energy Corporation Announces Private Placement Of...
12/05/201607:00:00Chesapeake Energy Corporation Announces Agreement To Sell First...
12/02/201618:07:00Rosen Law Firm Reminds Chesapeake Energy Corporation Investors...
12/02/201616:05:00Chesapeake Energy Corporation Announces Changes To Board Of Directors
11/25/201609:30:00INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
11/23/201610:26:00CHK ALERT: Rosen Law Reminds Chesapeake Energy Corporation Investors...
11/21/201610:28:00CHK SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds...
11/15/201609:46:00CHK INVESTOR ALERT: The Law Offices of Vincent Wong Reminds Investors...
11/11/201618:32:00EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class...
11/11/201610:51:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders...
11/09/201614:33:00CHK SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notifies...
11/07/201611:50:00EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class...
11/06/201608:00:00DEADLINE ALERT: Brower Piven Alerts Shareholders Of Upcoming...
11/03/201608:50:00Chesapeake Energy Results Not as Bad as Feared
11/03/201608:35:00Chesapeake Energy Results Not as Bad as Feared, Shares Higher
11/03/201607:00:00Chesapeake Energy Corporation Reports 2016 Third Quarter Financial...
10/28/201617:46:00Lifshitz & Miller Law Firm Announces Investigation of Alnylam...

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