Chesapeake Sues McClendon, Alleging Theft Of ‘Trade Secrets’

Christopher Helman reported:

Today Chesapeake Energy  sued American Energy Partners, the new company created by its embattled former CEO Aubrey McClendon. The complaint, filed in Oklahoma County District Court, alleges that in his waning days as CEO of Chesapeake, McClendon squirreled away massive amounts of data, containing “highly sensitive trade secrets.” After his departure from Chesapeake, in April 2013, McClendon set up his new company, American Energy Partners, and leveraged that data to make a series of deals to snap up more than 100,000 acres across the Utica shale play. According to Chesapeake’s complaint, “these purchases involved the same acreage evaluated in the data stolen by McClendon.”

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