OKLAHOMA CITY - Financial news outlets reported Monday morning the New York Stock Exchange suspended trading on and started delisting proceedings for Chesapeake Energy’s stock after the company’s bankruptcy declaration.
The company sought Chapter 11 protection in a filing it made in a southern Texas federal bankruptcy court on Sunday.
The past 18 months on the exchange had been rocky for the company.
A general economic slowdown beginning in late 2018 and concerns about Chesapeake’s debt progressively lowered the value of its stock to less than $1.
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