COLUMBUS, Ohio —
Ohio Attorney General Mike DeWine’s office is investigating the business practices of Chesapeake Energy Corp., a key player in the state’s burgeoning natural-gas market.
In a June 12 letter to the environmental watchdog group Ohio Citizen Action, DeWine said he launched a preliminary review in April of “unfolding disclosures” of activities by the Oklahoma City-based company and its CEO Aubrey McClendon.
The environmental group released the letter Tuesday.
If Chesapeake is shown to have manipulated core corporate activities to benefit McClendon’s personal interests, DeWine says shareholders, including Ohio’s retirement systems, may have suffered losses.
DeWine’s office is reviewing retirement-system trading data to identify any losses attributable to Chesapeake.
DeWine said Ohio could join an Oklahoma lawsuit against Chesapeake if it’s approved as a class action.
The company declined comment.
Business
Ohio AG probes Chesapeake business practices
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