Source: SEC looking into McClendon's shares in Chesapeake wells

04/30/2012 | Reuters

Chesapeake Energy's program that gave Chairman and CEO Aubrey McClendon a 2.5% stake in each of the company's natural gas wells is being probed by the Securities and Exchange Commission, according to a person familiar with the matter. The company said that its board of directors did not approve or review McClendon's financing transactions related to the shares, contradicting previous claims that the board was "fully aware" of such deals.

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