Jury Awards $404M In Suit Against Chesapeake

Law360, New York (January 29, 2007, 12:00 AM EST) -- A jury has awarded a massive $404 million in a class action lawsuit brought against a West Virginia gas company for allegedly underpaying royalties and engaging in price-fixing with another company.

Chesapeake Energy Corp. and NiSource Inc., the current and former owners of Columbia Natural Resources, promised to appeal Saturday’s verdict, which punished CNR for allegedly locking its prices for a five-year period.

The Roane County Circuit Court jury decided the award less than two weeks after the West Virginia Supreme Court of Appeals ruled that...
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