UPDATE 1-Major AEP investor settles Chesapeake trade secrets lawsuit

April 14, 2015 3:15 PM

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April 14 (Reuters) - Energy & Minerals Group (EMG), which has invested billions in oil and gas ventures with former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, has moved to extricate itself from a lawsuit filed by Chesapeake alleging McClendon stole its trade secrets and used them to build up his new businesses.

Houston-based EMG, a private investment firm led by John Raymond, said on Tuesday it reached an agreement with Chesapeake to remove American Energy-Utica (AEU) and unnamed investors from the lawsuit Chesapeake filed in February against McClendon's new firm, American Energy Partners (AEP) and affilia...

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