The Joplin Globe, Joplin, MO

Business

June 5, 2012

Judge considers delaying Chesapeake annual meeting

OKLAHOMA CITY — A federal judge is considering a motion filed by a group of Chesapeake Energy Corp. shareholders who want to delay the company’s annual shareholders’ meeting.

U.S. District Judge Vicki Miles-LaGrange heard oral arguments Tuesday but did not issue a ruling. She did not indicate when she’d make a decision. The meeting is set for Friday.

A group of shareholders wants to postpone the meeting until the company releases more information about CEO Aubrey McClendon’s compensation as well as loans he secured against his stake in company wells. The motion says information released by the company needs to be corrected so it is complete and not misleading.

Chesapeake has argued in court filings that the meeting shouldn’t be postponed and that shareholders have plenty of information about McClendon’s loans.

 

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