Oklahoma judge approves Chesapeake settlement in shareholders’ lawsuit

An Oklahoma County judge has signed off on a settlement in lawsuit filed by Chesapeake Energy Corp. investors upset over CEO Aubrey McClendon’s compensation in 2008.

 
BY JAY F. MARKS | Published: January 31, 2012   

The fight over Chesapeake Energy Corp. CEO Aubrey McClendon’s 2008 compensation appears to be winding down.

An Oklahoma County judge on Monday accepted a settlement in a lawsuit filed by several institutional investors that objected to McClendon’s $75 million bonus in 2008 even though the company’s stock price plummeted that year along with natural gas prices.

photo - Aubrey McClendon
Aubrey McClendon

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The fall forced McClendon to sell the bulk of his holdings in the company because of a margin call.

The company’s board gave McClendon a $75 million bonus and bought his antique map...
View full article on Oklahoman.com

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