March 3, 2017 - The case was voluntarily dismissed.

October 3, 2016 (Shareholders Foundation) - An investor in shares of Chesapeake Energy Corporation (NYSE:CHK) filed a lawsuit in the U.S. District Court for the Western District of Oklahoma over alleged violations of Federal Securities Laws by Chesapeake Energy in connection with certain allegedly false and misleading statements made between February 27, 2015 and September 28, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Chesapeake Energy Corporation (NYSE:CHK) common shares between February 27, 2015 and September 28, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 27, 2015 and September 28, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that Chesapeake Energy had improperly accounted for the acquisition and classification of oil and gas properties, that Chesapeake Energy lacked effective internal financial controls, and that as a result of the foregoing, Chesapeake Energy’s public statements were materially false and misleading at all relevant times.

Chesapeake Energy Corporation reported that its annual Total Revenue declined from over $23.12 billion in 2014 to over $12.76 billion in 2015 and that its Net Income of over $1.91 billion in 2014 declined to a Net Loss of over $14.68 billion in 2015. Shares of Chesapeake Energy Corporation (NYSE:CHK) declined from $30.89 per share in June 2014 to as low as $1.59 per share in February 2016.

Since then NYSE: CHK reached $8.14 per share on September 12, 2016.

Then on September 29, 2016, Chesapeake Energy Corporation revealed that they received a subpoena from the U.S. Department of Justice, specifically asking for the Company's accounting methodology for the acquisition and classification of oil and gas properties. Shares of Chesapeake Energy Corporation (NYSE:CHK) closed on September 30, 2016, at $6.27 per share.