New York (February 14th, 2013) - Levi &Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Groupon, Inc. (NASDAQ:GRPN) stock between May 14, 2012 and November 8, 2012.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects which resulted in the Company’s stock trading at artificially inflated prices.
Levi &Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C.
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Chesapeake Energy Corporation (NYSE:CHK) had announced last month that its Co-founder, Chief Executive Officer and President, Aubrey K. McClendon, has agreed to retire from the company on April 1, 2013 and will continue to serve as Chief Executive Officer until his successor is appointed.
Mr. McClendon, 53, has served as Chesapeake’s Chief Executive Officer since the inception of the company in 1989 and served as Chairman of the Board from its founding until 2012.
The Board will be working collaboratively with Aubrey to make a smooth transition to Chesapeake’s next Chief Executive Officer. The Board has retained Heidrick& Struggles to assist the Board in its search of Mr. McClendon’s successor.
Chesapeake Energy Corporation (CHK) is the second-largest producer of natural gas.
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