Chesapeake Energy Bid Rigging Antitrust Investigation
Chimicles & Tikellis is investigating a potential class action lawsuit against Chesapeake Energy and others related to bid rigging and other potential antitrust violations in connection with the procurement of oil and gas leases. On March 1, 2016 the Justice Department issued a criminal indictment against Aubrey K. McClendon, the former CEO of Chesapeake Energy, alleging that he orchestrated a bid rigging conspiracy between December 2007 and March 2012 related to the purchase of leasehold interests and producing properties in northwest Oklahoma. According to the indictment, the substantial terms of the alleged conspiracy was to suppress the prices that Chesapeake Energy and others paid to landowners for property leases and sales. In 2015, Chesapeake Energy and others entered into a $25 million settlement with the Michigan Attorney General to resolve similar allegations of bid rigging, which had allegedly caused oil and gas lease prices in Michigan to plummet in October 2010. According to reports, SandRidge Energy Inc. is the other, unnamed company in the indictment.
If you leased or sold property in Oklahoma to Chesapeake Energy between December 2007 and March 2012, please contact us to discuss this investigation via the “Email us about this Case” form.
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Attorneys for this case:
Benjamin F. Johns