SEC reviewing Chesapeake compensation program - WFMJ.com News weather sports for Youngstown-Warren Ohio

SEC reviewing Chesapeake compensation program

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.

  • More From wfmj.comHot ClicksMore>>

  • Trump lawyer must say why he wants porn star's case delayed

    Trump lawyer must say why he wants porn star's case delayed

    Saturday, April 21 2018 3:55 AM EDT2018-04-21 07:55:08 GMT
    (AP Photo/Mary Altaffer, file). FILE - In this April 16, 2018, file photo, adult film actress Stormy Daniels speaks outside federal court in New York. A federal judge is set to hear arguments about whether to delay the case of Daniels, who claims she h...(AP Photo/Mary Altaffer, file). FILE - In this April 16, 2018, file photo, adult film actress Stormy Daniels speaks outside federal court in New York. A federal judge is set to hear arguments about whether to delay the case of Daniels, who claims she h...
    President Donald Trump's lawyer, whose office was raided by the FBI last week, is seeking to delay a court case brought by a porn actress who claims she had an affair with the president.More >>
    President Donald Trump's lawyer, whose office was raided by the FBI last week, is seeking to delay a court case brought by a porn actress who claims she had an affair with the president.More >>
  • In new walkouts, students look to turn outrage to action

    In new walkouts, students look to turn outrage to action

    Saturday, April 21 2018 3:54 AM EDT2018-04-21 07:54:30 GMT
    (AP Photo/Carolyn Kaster, File). FILE - In this March 14, 2018 file photo, young demonstrators hold a rally in front of the White House in Washington. Another wave of school walkouts is expected as students honor victims of gun violence and push for gu...(AP Photo/Carolyn Kaster, File). FILE - In this March 14, 2018 file photo, young demonstrators hold a rally in front of the White House in Washington. Another wave of school walkouts is expected as students honor victims of gun violence and push for gu...
    Another wave of school walkouts is expected as students honor victims of gun violence and push for gun control.More >>
    Another wave of school walkouts is expected as students honor victims of gun violence and push for gun control.More >>
  • FAA orders more engine inspections after Southwest accident

    FAA orders more engine inspections after Southwest accident

    Saturday, April 21 2018 2:34 AM EDT2018-04-21 06:34:58 GMT
    (NTSB via AP). National Transportation Safety Board investigators examine damage to the engine of the Southwest Airlines plane that made an emergency landing at Philadelphia International Airport in Philadelphia on Tuesday, April 17, 2018. The Southwes...(NTSB via AP). National Transportation Safety Board investigators examine damage to the engine of the Southwest Airlines plane that made an emergency landing at Philadelphia International Airport in Philadelphia on Tuesday, April 17, 2018. The Southwes...
    The manufacturer of the jet engine involved in a fatal Southwest Airlines accident Tuesday wants more jets to be inspected for potential problems.More >>
    The manufacturer of the jet engine involved in a fatal Southwest Airlines accident Tuesday wants more jets to be inspected for potential problems.More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms