Chesapeake Resolves Texas Mineral Lease Action

Law360, New York (May 3, 2010, 12:29 PM EDT) -- Chesapeake Energy Corp. and its leasing agent PFM LLC have resolved a putative class action brought by a pair of Texas residents accusing the companies of breach of contract and negligence in connection with a $6.6 million agreement to lease the plaintiffs' mineral interests in their property.

Judge Royal Furgeson of the U.S. District Court for the Northern District of Texas on Friday approved the parties' joint motion to dismiss the action with prejudice pursuant to the parties' confidential written settlement agreement.

Each party will bear...
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