IRVINE, Calif.--(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 firstname.lastname@example.org.
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 email@example.com.
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