Chesapeake in Michigan probe for possible criminal violation

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

Chesapeake Energy's (CHK) bad day gets a little worse, as it reveals Michigan's attorney general is probing a possible violation of the state's criminal solicitation law.

CHK said in an SEC filing that the Michigan Department of Attorney General issued a subpoena related to the matter on Sept. 16.

CHK had already said more than a year ago that it is the subject of a U.S. government investigation over possible criminal antitrust violations related to the purchase and lease of oil and gas properties in Michigan.

Shares slumped nearly 7% in regular trading after the company warned Eagle Ford oil production would be lower this quarter, ending a streak of increases and raising questions about its growth prospects.