See the *50* page [novel] lawsuit filed against Chesapeake Energy by shareholders

If you live in Oklahoma or follow the energy industry at all, you have probably heard about the recent troubles that Chesapeake Energy and its CEO Aubrey McClendon have experienced. In addition to a lot of bad press, at least six or seven major shareholders in Chesapeake have filed lawsuits against the Company and McClendon in federal court. These are class action lawsuits which essentially claim that Chesapeake’s CEO and Board of directors have mismanaged the Company and put personal interests above Company interests. One lawsuit filed in Oklahoma County Court is challenging the amount of jet travel the CEO and Board Members have taken.

The lawsuits are primarily filed by attorneys who do this type shareholder work work for a living. For this reason, it is not surprising that some of the documents are novels in themselves, like this Complaint which was filed in federal court in Oklahoma City – it is 50 pages, astounding even considering the verbose nature of the profession that files lawsuits.

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Posted by Shawn Roberts

On this blog, I write about and try to answer practical Oklahoma legal questions. My focus and most experience is in estate planning and business issues including Oklahoma non-compete law. I make a living as an attorney in the law firm I founded, Shawn J. Roberts, P.C. in Oklahoma City. I live in Edmond with my wife Amy and my two children, Sam (19) and David (11). We live precisely in the path of where the "wind comes sweeping down the plains."