This lawsuit against Chesapeake and Tom Ward comes four months after a federal grand jury indicted Aubrey McClendon for allegedly fixing shale lease auctions. McClendon died a day after the indictment, at age 56, when the SUV he was driving slammed into a bridge in Oklahoma City, where he lived and worked.
Tom Ward was a former partner of McClendon and left Chesapeake back in 2006 and went on to SandRidge.
Chisholm Partners and its investors brought the suit accusing Chesapeake and Ward of working together to artificially lower prices while McClendon led his company and Ward was chief executive officer at SandRidge Energy. The plaintiffs are seeking at least $30 million in damages in the lawsuit filed July 13 in a federal court in Kansas City, Kansas.
McClendon, before his death, maintained his innocence in a federal case. Ward, in a March 29 interview with Bloomberg, declined to discuss any legal matters related to McClendon, but also noted that drillers sometimes worked together during the boom.
Full Content: Midland Reporter-Telegram
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Federal Antitrust Trial Explores Potential Impact of Tapestry-Capri Merger
Sep 12, 2024 by
CPI
Australia Targets Big Tech with New Fines for Misinformation
Sep 12, 2024 by
CPI
Mastercard to Acquire Cybersecurity Firm Recorded Future for $2.65 Billion
Sep 12, 2024 by
CPI
Ireland Prime Minister: Apple’s €13 Billion Payment Could Fund Housing and Capital Projects
Sep 12, 2024 by
CPI
Regulators Probe Swisscom’s $8.8 Billion Vodafone Italia Deal
Sep 12, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández