Chesapeake CEO "Deeply Sorry"

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Chesapeake Energy CEO Aubrey McClendon issued an apology for the turmoil caused by the recent revelations regarding his financial dealings and the effect they've had on Chesapeake's stock.

An excerpt from Reuters:

Shares of Chesapeake Energy Corp posted their largest decline in more than three years as Chairman and Chief Executive Aubrey McClendon said he was "deeply sorry" for the turmoil caused by his personal financial dealings.McClendon is under fire over investigations by Reuters into his personal financial dealings. He characterized many of the reports as "misinformation," without elaborating.
"There's been enormous and unprecedented scrutiny of our company, and of me personally. And a great deal of misinformation has been published, and uncertainty created," McClendon told analysts on anearnings conference call on Wednesday.
Chesapeake shares were down nearly 14 percent on the New York Stock Exchange in early afternoon, the stock's largest decline in more than three years.
McClendon did not offer specifics, and analysts did not press him on the Reuters reports that showed he had taken out as much as $1.1 billion in personal loans on ownership stakes in wells the company had given to him. Analysts and academics have said those stakes posed potentially serious conflicts of interest.
On Wednesday, a new Reuters investigation found that McClendon also ran a $200 million hedge fund that was registered at Chesapeake's Oklahoma City office from 2004 to 2008 and traded in the same commodities Chesapeake produces.

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