NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of individuals who beneficially hold Chesapeake Energy Corporation (NYSE:CHK) 6.875% senior notes due 2020 and 6.125% senior notes due 2021 (“Class Notes”) from December 31, 2015 to the present. The lawsuit seeks to recover damages for Chesapeake Energy Corporation investors.
To join the Chesapeake Energy Corporation class action, go to the firm’s website at http://www.rosenlegal.com/cases-850.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Chesapeake Energy Corporation announced a proposed private debt exchange on December 2, 2015 (the “Exchange Offer”) to exchange and replace certain Class Notes and certain other notes for newly-issued 8.00% Second Lien Senior Secured Notes due 2022 (the “8.00% 2L Notes”). Chesapeake Energy Corporation’s pursuit of the Exchange Offer benefited only themselves and a minority of holders of Class Notes and violated the implied covenant of good faith and fair dealing. The obligations in the Class Notes were made subordinate to the obligations in the 8.00% 2L Notes, impairing class members' right to receive payment of the principal and interest under the Class Notes and the right to sue to compel such payment. The Exchange Offer allowed Chesapeake Energy Corporation to unjustly enrich itself by reducing its indebtedness at the expense of the class members.
A class action lawsuit has already been filed. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-850.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.