SAN FRANCISCO, Oct. 26, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Chesapeake
Energy Corporation (NYSE:CHK) that the firm continues its investigation of possible securities law violations related to a recently
disclosed U.S. Department of Justice subpoena seeking accounting documents.
If you purchased or otherwise acquired securities of CHK before September 29, 2016 and suffered over $50,000 in
losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/CHK
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing CHK@hbsslaw.com.
On September 27, 2016, Chesapeake Energy filed its Form 8-K with the SEC announcing the resignation of two members of its Board
Audit Committee effective September 26, 2016.
Two days later, on September 29, 2016, the Company filed another Form 8-K announcing in part “we have received a DOJ subpoena
seeking information on our accounting methodology for the acquisition and classification of oil and gas properties and related
matters.” This news drove the price of Chesapeake shares down over 9% on heavy volume to close at $6.12 per share that
day.
“Among other things, we’re investigating the timing of the Audit Committee director departures and whether Chesapeake violated
applicable accounting rules,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Chesapeake Energy should consider their options
to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program,
whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by
the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CHK@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm
represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be
found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000