San Diego, CA -- (SBWIRE) -- 04/25/2016 -- An investor filed a lawsuit in New York over alleged Securities Laws violations in connection with 6.875% senior notes due 2020 and 6.125% senior notes due 2021 from Chesapeake Energy Corporation.

Investors who purchased 6.875% senior notes due 2020 and/or 6.125% senior notes due 2021 from Chesapeake Energy Corporation (NYSE:CHK) from December 31, 2015 to April 4, 2016 have certain options and investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges on behalf of 6.875% senior notes due 2020 and 6.125% senior notes due 2021 from Chesapeake Energy Corporation (NYSE:CHK) from December 31, 2015 to April 4, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that on December 2, 2015, Chesapeake Energy Corporation announced a proposed private debt exchange (the "Exchange Offer") through which it would exchange and replace certain Notes, along with certain other notes, for newly-issued 8.00% Second Lien Senior Secured Notes due 2022 (the "8.00% 2L Notes"). Notably, only Qualified Institutional Buyers—generally those that own and invest at least $100 million in securities—were eligible to participate in the Exchange Offer. The plaintiff and non-qualified Institutional Buyers could therefore not participate in the Exchange Offer, nor did they receive the exchange memorandum informing them of how the Exchange Offer would negatively affect their interests in the stated notes. The plaintiff says that importantly, the risk of the Exchange Offer was not disclosed by Chesapeake Energy Corporation in its offering prospectus for the notes stated above, nor could it have been foreseen by the plaintiffs or the other non-qualified Institutional Buyers at the time they purchased their notes.

The plaintiff alleges that Chesapeake Energy Corporation's decision to pursue the transaction benefiting only themselves and a minority of holders of Notes violated the implied covenant of good faith and fair dealing.

Those who purchased 6.875% senior notes due 2020 and/or 6.125% senior notes due 2021 from Chesapeake Energy Corporation (NYSE:CHK) from December 31, 2015 to April 4, 2016 have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com