SEC Launches Informal Investigation of Chesapeake & McClendon
The sharks continue to circle around Chesapeake Energy. Yesterday, the company confirmed via a brief press announcement (below) that the Securities and Exchange Commission (SEC) has launched an informal investigation into the company and its founder/CEO Aubrey McClendan.
The Chesapeake announcement:
Chesapeake Energy Corporation today confirmed that the company and its Chairman and CEO, Aubrey K. McClendon, have been notified by the Securities and Exchange Commission (SEC) that its Fort Worth Regional Office has commenced an informal inquiry and requested that the company and Mr. McClendon retain certain documents. The SEC noted in its request, which was received yesterday, that its inquiry should not be construed as an indication that any violation of the federal securities laws has occurred. The company and Mr. McClendon intend to cooperate with the SEC in responding to its inquiry.*
*Chesapeake Energy (May 3, 2012) – Chesapeake Energy Corporation Confirms SEC Informal Inquiry