What is the class action claim?

The Seventy Seven Energy Inc. Retirement & Savings Plan, beginning in 2014, took on and kept almost $100 million in Chesapeake Energy Corporation stock. Rather than diversify this large concentration of non-Seventy Seven Energy, Inc. stock into the S&P 500, Seventy Seven Energy, Inc. chose to keep these Plan assets in Chesapeake stock. Shares of Chesapeake Energy have lost virtually all value while the S&P 500 has risen to record levels. The fiduciaries responsible for managing the Seventy Seven Energy Inc. Retirement & Savings Plan should have taken steps to diversify its concentration of Chesapeake Energy stock into the S&P 500.

Who can join this class action?

Any current or former employees of Seventy Seven Energy, Inc. who also participated in the Seventy Seven Energy Inc. Retirement & Savings Plan anytime during the past 6 years. 

Is there any cost to me?

No.  All plaintiff attorneys are litigating this case on a contingency fee basis.

What if I signed a severance agreement with a release of claims?

Severance agreements generally cannot prevent you from being part of a class action or a being a class representative in this type of case.  Please contact us if you have more questions on your specific severance agreement.

How can I help &/or participate?

     1. We are interested in reviewing documents you can download from the Seventy Seven Energy Inc. Retirement & Savings Plan website: 

  • Summary Plan Description (SPD)
  • Annual Fee Disclosure
  • Statements – Please feel free to redact any personal data

Please email to mk@mk-llc.com or fax to 646-546-5755.

  1. Refer other current or former employees who were or are participants in the Seventy Seven Energy Inc. Retirement & Savings Plan by sharing this page and or posting on social media (FB, LinkedIn).
  2. Join the case as a plaintiff Class Representative.

Read about Class Representative Duties.

Please feel free to email mk@mk-llc.com or call 646-546-5664 with any additional questions.

Online Retainer Instructions

  1. Please carefully read and check box "Part I -– Class Representative Duties"
  2. Please complete "Part II - Client Contact & Employment Information."
  3. Make sure all the required fields are filled out and as many of the optional fields as possible.
  4. Please carefully read & sign the Retainer Agreement
  5. Click the "Click to Sign" button to submit your signed agreement.
  6. Check for an email from "Adobe Sign" and click the "Confirm my email address" link to verify your signature and complete the process.
  7. One of our Attorneys will contact & speak with you by phone to finalize your joining this case. Please note: You must have a phone conversation with one of our Attorneys to complete your retention as a client of MKLLC LAW.