Court Denies Injunction Against Chesapeake

By Jeff Raymond, Oklahoma Impact Team

OKLAHOMA CITY -- A federal judge has denied a request to postpone Chesapeake Energy's annual shareholder meeting, scheduled for Friday.

Read the judge's denial of the injunction

In a written order issued Wednesday afternoon, U.S. District Judge Vicki Miles-LaGrange said shareholders didn't show that they would suffer "irreparable injury" should the meeting proceed. Plaintiffs seeking an injunction must meet this threshold.

6/5/2012 Related Story: Judge Hears Arguments On Chesapeake Injunction

LaGrange noted that the court could invalidate the results of votes at Friday's meeting should shareholders prove that Chesapeake did not provide adequate information in its regulatory filings.

Shareholders are seeking more information into Chesapeake CEO Aubrey McClendon's selling and borrowing against his stake in company wells, and what the company and its board of directors knew about the arrangements.

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