NEW YORK, Aug. 11, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Vine Energy, Inc. ("Vine Energy" or the "Company") (NYSE: VEI) in connection with the proposed cash-and-stock acquisition of the Company by Chesapeake Energy Corporation ("Chesapeake") (NASDAQ: CHK).
4 replies (most recent on top)
Nothing, more vividly illustrates the overall incompetence of the people working at CHK than the legal department.
Since 2000, CHK has purchased how many other exploration and production companies? 10? 15? In any event, they paid outside counsel to complete the paper work.
Ordinary lawyers can perform any legal task once they see things done once or twice.
Not the CHK legal team. They paid hundreds of millions of dollars to watch other lawyers do work they should have done themselves and still they don’t have a clue.
Fire every clown in the legal dept. now. Let’s get our own lawyers who don’t have to pay outside lawyers to handle routine legal matters. It’s pathetic. How did we become the laughing stock of exploration and production?
Kirkland and Ellis is very happy.
Where else can you charge $600/hr for lawyers fresh out of law school and $2,000 an hour for anybody not wet behind the ears? Remember, Kirkland is getting the money even though their advice has bankrupted legions of exploration companies. If there is a scam better than this…
Who cares about the employees?
The original Vine employees got the sweat shop treatment under the guise they were building a new company, that the hard work would pay off later and guarantee job security.
When Pioneer bought Parsley, nearly all of the Parsley rank and file got fired. Pioneer went so far as to completely close Parsley’s Austin office and 100% of the non-executives got fired.
Who is supposed to be happy? The bankers?
To all Vine employees: you, figuratively, are in a jet plane that is crashing. Put your head between your legs and kiss your b-m good-bye!
Let me guess--Kirkland and Ellis is papering up this boondoggle too.
CHK has been a Orgasmatron/money machine for K & E for waaaaay too long. It's like something out of an old Woody Allen movie.
Papering up this idiocy should be good for another 100 to 200 million before the charlatans/no accounts at Kirkland bankrupt us again.