Chesapeake Energy Shakes Class Cert. Bid In Lease Suit

Law360, New York (September 12, 2011, 8:21 PM EDT) -- A Texas federal judge on Monday refused to let about 500 mineral rights holders who leased oil-and-gas rights to Chesapeake Energy Corp. litigate as a class in a lawsuit accusing the energy company of breaking the contracts by deliberately underpaying them.

The plaintiffs claim that Chesapeake — one of the largest natural gas drillers in the U.S. — and several subsidiaries deliberately underpaid them or walked away from lease payments entirely after gas prices dropped in the financial crisis.

U.S. District Judge T. John Ward said...
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