Market slide forces McClendon to dump billions in Chesapeake stock
Aubrey McClendon , chairman of Chesapeake Energy Corp. , was forced to sell “substantially all” of the more than 33 million shares of his company’s stock to meet margin calls.
“These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis,” McClendon said in a statement issued after markets closed today. “In no way do these sales reflect my view...
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