SEC reviewing Chesapeake compensation program - 21 News Now, More Local News for Youngstown, Ohio -

SEC reviewing Chesapeake compensation program

  • More News

  • Saturday, May 25 2013 10:42 AM EDT2013-05-25 14:42:42 GMT
    YOUNGSTOWN, Ohio- Police are investigating a shooting that left one person with multiple gunshot wounds. According to a police report, 23-year-old Salvador Battles was shot Friday night on South avenue.
    YOUNGSTOWN, Ohio- Police are investigating a shooting that left one person with multiple gunshot wounds.
  • Friday, May 24 2013 11:38 PM EDT2013-05-25 03:38:11 GMT
    VIENNA, Ohio - Local Air Force Reservists are on a mission of mercy for orphans overseas. Members of the 910th Airlift Wing's 76th Aerial Port Squadron loaded a school bus aboard a C-5 aircraft which
    VIENNA, Ohio - Local Air Force Reservists are on a mission of mercy for orphans overseas. Members of the 910th Airlift Wing's 76th Aerial Port Squadron loaded a school bus aboard a C-5 aircraft which
  • Friday, May 24 2013 11:23 PM EDT2013-05-25 03:23:49 GMT
    CANFIELD, Ohio - A former employee of Ohio's Prison System has changed his plea to guilty on two public indecency charges. According to our print partner The Vindicator, 50-year-old Michael Johns of Canfield
    CANFIELD, Ohio - A former employee of Ohio's Prison System has changed his plea to guilty on two public indecency charges. According to our print partner The Vindicator, 50-year-old Michael Johns of Canfield

The Securities and Exchange Commission is reviewing a compensation program at Chesapeake Energy Corporation that created potential conflicts of interest for its CEO.

The program allows Aubrey McClendon to take personal stakes in the company's oil and natural gas wells.

Investors have criticized the program and news reports revealed recently that McClendon took out more than one billion in loans to cover his investment in the company's wells.

Some of those loans came from a group that was planning to buy Chesapeake assets.

Chesapeake has opened its own investigation into the program. It also stripped McClendon of his board chairmanship and will end the well-investment program in 2014.

Powered by WorldNow
All content © Copyright 2000 - 2013 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms