EQUITY ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Chesapeake Energy Corp. & Encourages Invest...
October 10 2016 - 11:55AM
Business Wire
Khang & Khang LLP (the “Firm”) announces a class action
lawsuit has been filed against Chesapeake Energy Corporation
(“Chesapeake” or the “Company”) (NYSE: CHK; CHKDG). Investors who
purchased or otherwise acquired shares between February 27, 2015
and September 28, 2016 inclusive (the “Class Period”), are
encouraged to contact the Firm by the December 5, 2016 lead
plaintiff motion deadline.
If you purchased shares of Chesapeake during the Class Period,
please contact Joon M. Khang, Esquire, of Khang & Khang, 18101
Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949)
419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case. Until
certification occurs, you are not represented by an attorney. You
may choose to take no action and remain a passive class member.
The complaint alleges that Chesapeake issued false and
misleading statements and/or failed to disclose it had improperly
accounted for the acquisition and classification of oil and gas
properties, and that it lacked effective internal financial
controls. In its filings with the U.S. Securities and Exchange
Commission, Chesapeake noted that it “follows the full cost method
of accounting under which all costs associated with oil and natural
gas property acquisition, drilling and completion activities are
capitalized.” On September 29, 2016, Chesapeake announced that it
received a subpoena from the U.S. Department of Justice seeking
information on its accounting methods for the acquisition and
classification of oil and gas properties. When this news was made
public, shares of Chesapeake decreased in value.
If you wish to learn more about this lawsuit, or if
you have any questions regarding this notice or your rights, please
contact Joon M. Khang, a prominent litigator for almost two
decades, by telephone: (949) 419-3834, or by e-mail at
joon@khanglaw.com.
This press release may constitute Attorney Advertising in some
jurisdictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20161010005851/en/
Khang & Khang LLPJoon M. Khang, Esq.Telephone:
949-419-3834Facsimile: 949-225-4474joon@khanglaw.com
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