What began as an “informal inquiry” in May 2012 has now become an “investigation,” Reuters reports.
The U.S. Securities and Exchange Commission has issued subpoenas for information and testimony about a controversial CEO perk that allowed Aubrey McClendon a stake in every well the Oklahoma City energy company drilled, according to a regulatory filing disclosed Friday.
“I’m now confused because the board just said everything was fine,” said Fadel Gheit, oil analyst at Oppenheimer. “I really thought the board had an iron-clad, air-tight grip on the situation. Unfortunately the saga continues.”