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Chesapeake Barred From Antitrust Cash: 5th Circ.

Law360 (June 1, 2009, 12:00 AM EDT) -- A federal appeals court has ruled that Chesapeake Energy Corp., formerly a defendant in a protracted antitrust class action over wellhead oil prices, is not entitled through mergers to seek settlement funds provided to oil purchasers in the litigation.

On Thursday, Judges Jerry E. Smith, James L. Dennis and Edward C. Prado of the U.S. Court of Appeals for the Fifth Circuit held that the district court correctly refused Chesapeake subsidiary Chesapeake Exploration LP a share of the settlement funds established a decade ago for a...
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