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Federal class action civil lawsuit filed against Chesapeake, Sandridge

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OKLAHOMA CITY —

A federal class action lawsuit has been filed in the United States District Court for the Western District of Oklahoma against multiple Oklahoma oil and natural gas companies.

Plaintiff Brian Thieme alleges Chesapeake Energy Corp., Chesapeake Exploration LLC, Sandridge Energy Corporation, Tom Ward and other unnamed John Doe defendants conspired to depress the market and rig bids for the purchases of oil and natural gas leasehold interests.

The lawsuit also alleged the companies conspired to rig bids for properties containing the production of oil and natural gas well, according to the lawsuit.

Click here to read the Thieme v Chesapeake class action complaint

The lawsuit also alleged the companies conspired to rig bids for properties containing the production of oil and natural gas well, according to the lawsuit.

The lawsuit alleges in 2011,  Chesapeake purchased a leasehold interest in Thieme’s mineral estate.

A leasehold interest in an oil and gas lease generally grants the lessee the right to develop the mineral interest to explore for and extract oil, natural gas, and natural gas liquids for a certain length of time, according to the lawsuit.

Thieme is a resident of Colorado.

Defendants John Doe Nos 1-50 are alleged to have participated in the bid rigging and unlawful restraint of trade, according to the lawsuit.

Some alleged McClendon was manipulating gas prices to make money on the side in a hedge fund, worth about $200 million, trading in natural gas.

Thieme is seeking costs of suits, equitable relief, treble damages, and reasonable attorney’s fees, according to the lawsuit.

Thieme is being represented by the law firm Burns Charest LLP in Dallas, Tex.

The lawsuit comes a day after former Chesapeake CEO Aubrey McClendon died in a car accident.

REPORT: Former SandRidge CEO said to be alleged co-conspirator in Aubrey McClendon bid rigging case