Hearing on Chesapeake meeting postponed

Chesapeake Energy Corp. shareholders hoping to get more information from the company before its scheduled annual meeting are running out of time to delay the proceeding.

A hearing on their request to postpone the June 8 meeting had been set for Wednesday afternoon, but it has been continued until next week.

Attorneys said U.S. District Judge Vicki Miles-LaGrange cited personal reasons for moving the hearing. She now is scheduled to hear arguments at 10 a.m. Tuesday.

Chesapeake has argued against postponing the meeting, contending the company has provided sufficient information to its shareholders.

Chesapeake shareholders will vote on compensation and governance issues and the re-election of two board members at the annual meeting.

Several institutional investors have called on shareholders to withhold votes for board members Burns Hargis and Richard K. Davidson. The latest was New York State Comptroller Thomas P. DiNapoli, who Tuesday urged shareholders to replace the entire board.

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