New civil antitrust claims filed against Chesapeake and SandRidge

A class of oil and gas royalty owners has filed a civil antitrust lawsuit against Chesapeake Energy Corp., SandRidge Energy Corp., and former SandRidge CEO Tom Ward.

The 14-page lawsuit, filed by attorneys with the Dallas, Texas-based law firm Burns Charest LLP, alleges that the defendants violated federal antitrust laws by rigging bids and limiting competition for oil and gas leases in northwest Oklahoma. The lawsuit states that the class could ultimately include thousands of affected royalty owners in the geological formation known as the Anadarko Basin region.

"This case is about cleaning up the oil patch," says Warren Burns, founder and co-managing partner of Burns Charest, who represents the proposed class. "In a rush to reap illegal profits, the defendants violated the trust and confidence of these royalty owners. Their actions demonstrate that they were willing to betray my clients and violate the law. We are suing to recover damages and to promote legal competition in the oil and gas industry."

The case, Thieme v. Chesapeake Energy Corp., et al., was filed in federal court in the Western District of Oklahoma.

 

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