Ponca City, OK

Now: 32 °F

Currently: Cloudy

Hi: 32 °F | Lo: 23 °F

Wednesday

Hi: 44 °F 

Lo: 27 °F

Thursday

Hi: 37 °F 

Lo: 19 °F

Friday

Hi: 45 °F 

Lo: 28 °F

Saturday

Hi: 46 °F 

Lo: 32 °F

Sunday

Hi: 55 °F 

Lo: 35 °F

Proposal would settle Chesapeake lawsuit for $6.95 million

The Associated Press - September 6, 2018 4:08 pm

OKLAHOMA CITY (AP) – A proposed $6.95 million settlement would end a lawsuit alleging the co-founders of Oklahoma City-based Chesapeake Energy conspired to rig bids on leases for land to explore for oil and natural gas.

The proposal filed late Wednesday in federal court calls for thousands of people in Oklahoma and Kansas to share in the settlement.

Aubrey McClendon left Chesapeake in 2013 over differences with the company’s board of directors. Tom Ward, who left Chesapeake in 2006 and later formed now-bankrupt Sandridge Energy, denied the conspiracy allegation.

The lawsuit alleges McClendon, who died in a March 2016 auto accident the day before the lawsuit was filed, and Ward conspired from 2007 to 2012 for Chesapeake and Sandridge to not bid against each other in order to suppress prices for leases and royalties.

 

Latest Stories

Two former OU students apologize for racist video

NORMAN, Okla. (AP) – Two former University of Oklahoma students are publicly apologizing for their involvement...

Kaw Nation makes donation to Ponca City Public Schools

Dwight M. Pickering, Kaw Nation 477 Director, and Lynn Williams, Chair of the Kaw Nation, presented...

Oklahoma WIC Program funded through February

In an effort to maintain assistance for families, the Oklahoma Women, Infant and Children (WIC) nutrition...