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Chesapeake loses 9% after revealing DOJ subpoena on lease accounting

acknowledged receiving a U.S. Department of Justice subpoena for information onits accounting practices related to oil and natural gas leases.

Chesapeakepreviously received separate subpoenas on its purchase and lease of oil andnatural gas rights and royalty payment practices, the company said. Chesapeakedetailed the subpoenas in a Sept. 29 SEC filing for an note issuance.

Thecompany's stock fell 9.33% on Sept. 29, to $6.12.

Inrecent years, the company has faced multiple lawsuits from landowners, such asin Pennsylvania andTexas, over claims of underpaid royalties in gas leases. Co-founder and formerCEO Aubrey McClendon was also charged with rigging bids with SandRidge Energy Inc. between December 2007 and March2012.

Chesapeakesaid it has had discussions with the U.S. Department of Justice, the U.S.Postal Service and other government agencies and state representatives thatsent the subpoenas.