Mahony Partners

Tag: Chesapeake Energy

10
May
2012

Reuters Scores a Big Win on its Chesapeake Coverage

Categories: Crisis, Media
Reuters can take a well-earned bow for its coverage of Chesapeake Energy and its CEO, Aubrey McClendon.  The news service has broken several major stories in the past three weeks that brought to light McClendon’s questionable financial dealings, including his borrowings against stakes in the company’s wells and investments in a hedge fund.  The reports forced the board to strip McClendon of his chairmanship and led to an investigation by the SEC.  Chesapeake shares are down nearly 19 percent. Reuters stood by its initial report about McClendon’s loans as Chesapeake made a strident denial of any impropriety.  The company was forced to backtrack after it issued an embarrassing statement th... Read More
26
Apr
2012

Chesapeake Shows Why Lawyers Shouldn’t be Communicators

Categories: Crisis
The board of Chesapeake Energy (NYSE: CHK) just released a statement in which it denied knowing of CEO Aubrey McClendon’s borrowings related to his stakes in the company’s wells, contradicting a statement made by the company’s general counsel earlier in the week: “Chesapeake also wishes to clarify a statement appearing in its April 18, 2012 press release captioned “Chesapeake Energy Corporation General Counsel Henry J. Hood Issues Statement.” The statement that “the Board of Directors is fully aware of the existence of Mr. McClendon’s financing transactions” was intended to convey the fact that the Board of Directors is generally aware that Mr. McClendon used interests acquired throu... Read More
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