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 401(k) Plan - EconoTimes)
NEW YORK, Dec. 23, 2016 -- Stull, Stull & Brody today announced that a securities fraud complaint has been filed and that it has commenced an investigation relating to the 401(k) defined contribution plan of Chesapeake Energy Corporation (NYSE:CHK) ("Chesapeake Energy" or the "Company"). Among other things, Stull, Stull & Brody is investigating whether fiduciaries of Chesapeake Energy's 401(k) plan violated the Employee Retirement Income Security Act of 1974 ("ERISA") by offering Chesapeake Energy stock as an investment option under the plan when it was not prudent to do so and by failing to disclose the Company's true financial and operating condition to participants and beneficiaries of the plan.
If you held Chesapeake Energy stock in an individual account under a Company 401(k) plan during the last several years and have questions about your legal rights or interests with respect to these matters, please contact Michael Klein, Esq. at Stull, Stull & Brody by e-mail at [email protected], by calling toll-free 1-800-337-4983 x147, by fax to 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
The securities fraud action filed in the U.S. District Court for the Western District of Oklahoma focuses on whether, between February 27, 2015 and September 28, 2016, the Company and its executives violated federal securities laws by making false and/or misleading statements regarding (1) whether Chesapeake had improperly accounted for the classification and acquisition of gas and oil properties; (2) whether Chesapeake lacked effective internal financial controls; and (3) subsequently, whether the Company's public statements were materially false and misleading at all relevant times.
You may retain Stull, Stull & Brody, or other counsel of your choice, to represent you. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Beverly Hills.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
