Chesapeake Energy Securities Action Survives

Law360, New York (September 3, 2010, 4:00 PM EDT) -- A federal judge has denied a request by natural gas producer Chesapeake Energy Corp. to throw out a putative class action that accuses the company of omitting from registration filings key information about its financial activities ahead of a 25 million-share public offering.

In an order issued Thursday in the U.S. District Court for the Western District of Oklahoma, Judge Timothy DeGiusti rejected Chesapeake’s argument that the plaintiffs lacked sufficient grounds to state a claim for relief, shooting down the company’s motion to dismiss.

The United...
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