Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
With dozens of oil and energy companies filing for bankruptcy, this is a very hard time for all oil and energy companies. Chesapeake Energy Corp (CHK)is yet another energy company facing huge problems. With the high supply, mixed with poor global economic conditions which are now leading to low demand, the price of oil is incredibly low. CHK is going to have a hard time making profits and investors will suffer.
Yesterday the U.S. Department of Justice opened an investigation into possible antitrust violations by Chesapeake Energy Corp (CHK).
The agency subpoenaed documents related to how they pay royalty owners and accounts for oil and gas reserves. The subpoena, was filed on Thursday, September 29, 2016, with the U.S. Securities and Exchange Commission (SEC). According to the filing, the Justice Department and other agencies asked Chesapeake for documents, testimony and information related to the company's oil and gas leases and purchases as part of its antitrust investigation.
Investigators with the Justice Department also are seeking information on how the company acquires and classifies its oil and gas properties. Chesapeake also received subpoenas from the U.S. Postal Service and state agencies for information on its royalty payment practices.
The company has been named in several lawsuits alleging underpayment of royalties and has defended cases in: Arkansas, Louisiana, Ohio, Oklahoma, Pennsylvania and Texas.
CHK’s 52 week range: 1.50 - 9.55
CHK is sitting on nearly $11 billion in debt. A large amount of this debt, $1.625 billion, will be due by the end of 2016. With the company producing losses quarter after quarter, paying off the enormous amount of debt means borrowing more money. The rate of borrowing and large losses can't last forever. The increased production globally, is adding to the supply. This will likely keep oil prices low or even send them further downward in the long run.
Since 2015, at least 85 North American oil and gas producers have gone bankrupt, due to the plummeting prices of crude oil. Soreide Law Group continues to hear from a growing list of investors whose brokers recommended a high-concentration of risky oil and gas stocks for their conservative portfolios causing devastating losses to their portfolios. With energy companies filing for Chapter 11, it leaves investors at the end of a very long creditor’s line.
If you’ve experienced losses due to your broker/financial advisor’s over-concentration of Chesapeake Energy Corp (CHK) or any other energy-related stock, call Soreide Law Group for a free consultation with a lawyer regarding the possibility of recovering your losses at: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA and we operate on a contingency basis.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
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