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Business and Economy

Chesapeake Energy Sues Founder, Former CEO McClendon

The corporate campus of Chesapeake Energy in Oklahoma City.
Joe Wertz
/
StateImpact Oklahoma
The corporate campus of Chesapeake Energy in Oklahoma City.

Oklahoma City-based Chesapeake Energy Corp. is suing its founder and former CEO Aubrey McClendon and his new company for allegedly taking sensitive trade secrets when he resigned from Chesapeake two years ago.

McClendon and his new company — American Energy Partners — call the allegation meritless and say McClendon left Chesapeake with an agreement that he would receive "extensive" information on land, wells and other matters.

The lawsuit alleges McClendon took "confidential information and trade secrets from Chesapeake."

McClendon said in a statement that he is being wrongly accused and that it's "beyond belief" he would be sued by the company he co-founded and worked to turn into a successful oil and gas producer. He said his agreement with Chesapeake gives him the right to possess and use the information.

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