Exclusive: Chesapeake CEO McClendon hires ex-SEC lawyer

WASHINGTON (Reuters) - The embattled chief executive of Chesapeake Energy Corp.

WASHINGTON (Reuters) - The embattled chief executive of Chesapeake Energy Corp.

The embattled chief executive of Chesapeake Energy Corp. has hired a top defense lawyer to represent him in a securities regulatory inquiry into $1.3 billion in personal loans, three people familiar with ...

The embattled chief executive of Chesapeake Energy Corp. has hired a top defense lawyer to represent him in a securities regulatory inquiry into $1.3 billion in personal loans, three people familiar with ...

Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon will resign from the company he built into the second-largest U.S. natural gas producer after scrutiny of his personal finances and a corporate cash crunch erased as much as 43% of its market value last year.

Chesapeake Energy Corp said the U.S. Securities and Exchange Commission was investigating the company and Chief Executive Aubrey McClendon and had issued subpoenas for information and testimony. The company said on Friday it was advised by the SEC in December that an informal inquiry, launched by the regulator in May, was continuing as an investigation. Shares of Chesapeake, the No. 2 natural gas producer in the United States, were down 2 percent before the bell.

Aubrey McClendon will no longer be running Chesapeake Energy Corpcome April 1. But he is likely to remain deeply entangled with the company he founded 24 years ago.