LOS ANGELES, CA / ACCESSWIRE / October 27, 2016 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Chesapeake Energy Corporation ("Chesapeake" or the "Company") (NYSE: CHK; CHKDG) concerning possible violations of federal securities laws between February 27, 2015 and September 28, 2016 (the "Class Period"). Investors, who purchased or otherwise acquired shares during the Class Period, should contact the Firm prior to the December 5, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, 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 information was disclosed to the public, shares of Chesapeake dropped in value, which caused investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethical rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
SOURCE: Lundin Law PC
ReleaseID: 447866
