Chesapeake Energy plunges on bankruptcy fears

Shares of Chesapeake Energy tanked over 50 percent on Monday after a report alerted investors it had hired restructuring specialists Kirkland & Ellis.

The company halted shares during morning trading and issued a statement saying it “has no plans to pursue bankruptcy."

Further, the company said Kirkland & Ellis had been one of the company’s law firms since 2010.

After trading resumed, shares recovered some ground but still ended the day down.

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