Chesapeake Energy to face racketeering charges in Michigan trial

• Chesapeake Energy (CHK +0.5%) must face trial on charges of felony racketeering and using false pretenses related to its land-leasing practices, a Michigan state judge rules.
• The Michigan AG brought the charges against CHK in June, alleging the company directed its agents to lock up land positions in the state during the state's 2010 oil and gas leasing boom by offering signing bonuses to private landowners.
• CHK says it believes the charges are without merit and expects to prevail at trial.