Chesapeake Energy, a major producer in the Eagle Ford, has filed a lawsuit against former CEO Aubrey McClendon’s new company, American Energy Partners. The suit alleges McClendon stole confidential documents including maps of oil and gas prospects before leaving the company in 2013.
The suit was filed on Tuesday in Oklahoma County District Court and relies on a forensic audit of Mr. McClendon’s emails that are said to contain evidence of wrongdoing.
McClendon founded Chesapeake in 1989 and came under scrutiny multiple times throughout the past several years as his position magnified. He was named one of the few eagle Ford Billionaires in 2013.
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Shares of Chesapeake stock declined this week as news of the legal trouble surfaced on Tuesday.
Chesapeake is active all across the Eagle Ford including Atascosa County, Dimmit County, Duval County, Frio County, Goliad County, LaSalle County, McMullen County, Washington County, Webb County and Zavala County.
Read more at wsj.com