Chesapeake Energy Sued Over Corporate Jet Policy

The lawsuit claims Chesapeake has wasted millions of dollars by allowing senior executives and board members to use corporate jets for personal trips.

OKLAHOMA CITY (AP) — Oklahoma City-based Chesapeake Energy Corp. is being sued by a shareholder over the company's corporate jet policy.

The lawsuit filed under seal Tuesday in Oklahoma County District Court by Gilberta Norris of Virginia claims Chesapeake has wasted millions of dollars by allowing senior executives and board members to use corporate jets for personal trips.

A Chesapeake spokesman did not immediately respond to requests for comment.

Attorney Hung Ta told The Oklahoman (http://is.gd/AN1Lc9 ) the lawsuit was filed under seal because of a confidentiality agreement with Chesapeake after Norris obtained internal company documents that are the basis of her allegation.

About a dozen lawsuits have been filed against Chesapeake in recent weeks after revelations that company Chairman Aubrey McClendon obtained loans that were secured with his share of ownership in company wells.

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