Encana clears itself of collusion in Michigan

Encana clears itself of collusion in Michigan by Brian Grow and Scott Haggett, September 5, 2012, Reuters Legal
ATLANTA/CALGARY, Alberta, Sept 5 (Reuters) – Encana Corp said on Wednesday an internal investigation has determined that it did not collude with Chesapeake Energy Corp to lower the price of land acquisitions in Michigan two years ago. The company’s board of directors, which led the investigation launched on June 25 with the assistance of outside attorneys, did not provide a report on the scope of the inquiry, nor explain how it reached its conclusion. … Following requests from reporters, Encana disclosed that its board investigation had been assisted by attorneys from U.S. law firms Paul, Weiss, Rifkind, Wharton & Garrison, Gibson, Dunn & Crutcher, and Canadian law firm Blake Cassels & Graydon. The law firms have each represented Encana in other corporate matters, the company said. … In July, Reuters reported that the U.S. Department of Justice had opened a probe into Chesapeake and Encana’s land acquisitions. Chesapeake then disclosed last month that it had received a subpoena from the Justice Department on June 29 as part of a grand jury investigation. The company also said it had received requests for documentation from “state governmental agencies” as part of other investigations of its land acquisitions. Encana’s internal investigation was headed by David O’Brien, the chairman of Encana’s board of directors.

[Refer also to: EnCana faces California gas price-fixing trial ]

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