Chesapeake Energy wins dismissal of shareholder lawsuit

Wed Apr 10, 2013 7:19pm EDT

Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma, on April 17, 2012. F REUTERS/Steve Sisney

Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma, on April 17, 2012. F

Credit: Reuters/Steve Sisney

(Reuters) - Chesapeake Energy Corp (CHK.N) has won the dismissal of a securities class action lawsuit over allegations the company misled investors about its financial condition.

The lawsuit claimed that Chesapeake failed to disclose financial obligations by the company and its former Chief Executive Aubrey McClendon.

But in an order issued on Wednesday, Chief U.S. District Judge Vicki Miles-LaGrange in Oklahoma City wrote that the allegations failed to present facts showing the company or other company officers named in the complaint likely intended to mislead investors.

(Reporting by Andrew Longstreth. Editing by Andre Grenon)

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