Chesapeake Energy Corporation Investor Class Action Lawsuit

PRLog (Press Release) - Feb 25, 2009 -
On Wednesday an investor of Chesapeake Energy Corporation filed a proposed securities class action lawsuit against Chesapeake Energy Corporation, certain of its officers and directors, and certain underwriters in the United States District Court for the Southern District of New York on behalf of purchasers of Chesapeake Energy Corporation (NYSE: CHK) stock issued pursuant to the registration statement and prospectus filed with the Securities and Exchange Commission in connection with Chesapeake Energy Corporation's July 2008 secondary public stock offering.

If you purchased Chesapeake Energy Corporation (NYSE: CHK) stock issued pursuant to the registration statement and prospectus filed with the Securities and Exchange Commission in connection with Chesapeake Energy Corporation's July 2008 secondary public stock offering, you have certain options and there are strict and short deadlines running (April 24, 2009). You should contact the Shareholders Foundation, Inc. immediately!


Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the complaint the plaintiff alleges that Chesapeake Energy Corporation (“Chesapeake”), certain of its officers and directors, and certain underwriters of the secondary public stock offering violated the Securities Act of 1933. According to the complaint, on July 15, 2008, Chesapeake completed a secondary public offering of 28.75 million shares of common stock at $57.25 per share, receiving approximately $1.65 billion in gross proceeds, with net proceeds of $1.586 billion. The complaint alleges that the Registration Statement issued in connection with the Offering was materially false and misleading because it failed to disclose numerous facts which were required to be stated therein. During late 2008 and early 2009, as these omitted facts were revealed to the market, the price of Chesapeake stock (NYSE: CHK) declined to less than $12 per share, approximately 80% below the Offering price, so the lawsuit.

If you purchased Chesapeake Energy Corporation (NYSE: CHK) stock issued pursuant to the registration statement and prospectus filed with the Securities and Exchange Commission in connection with Chesapeake Energy Corporation's July 2008 secondary public stock offering, you have certain options and there are strict and short deadlines running (April 24, 2009). You should contact the Shareholders Foundation, Inc. immediately!


Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com  
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