McClendon's Estate, Chesapeake Reach Financial Settlement - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

NEWS

McClendon's Estate, Chesapeake Reach Financial Settlement

Posted: Updated:
file photo file photo
OKLAHOMA CITY -

A settlement was reached between Chesapeake Energy and it's former CEO Aubrey McClendon's estate.

This all started as a legal dispute involving claims that McClendon stole sensitive documents from Chesapeake to start a rival company. But after a deadly crash last March, which happened the day after he was indicted, Chesapeake was seeking $445 million in damages from his estate.

As part of the settlement filed earlier this month in Oklahoma County District Court, Chesapeake has agreed to drop that claim and pay $3.25 million in legal fees. In exchange, McClendon's estate is dropping claims to any compensation still owed under McClendon's separation agreement with Chesapeake. That includes cash, stock, and the use of a corporate jet.

The agreement must still be accepted by the court. A hearing has been set for March 8.

Special Features

iPhone App

Get breaking news, weather, sports & video directly on your iPhone.

Politics

Breaking political news & the latest headlines from the state capitol & D.C.

Radars

See where weather is happening using our live interactive radars.

Technology

Spend your money wisely with reviews of new tech gadgets & the latest news in technology.

TV Schedule

Need to know what's on TV? Check out our television schedule.

Live Radar

WARN Interactive
Powered by Frankly
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111
News9.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.