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Oct 13, 2015

Special Report: As hotel project broke budget, insiders pointed to role of CEO’s wife

MIDLAND, Michigan (Reuters) – When Dow Chemical Co began renovating the hotel it owns here, the industrial giant spared little expense.

From 2006 through 2008, Dow turned the former Ashman Court Hotel into a luxury destination. Out went the tile in the lobby. In the rebranded H Hotel, guests walk on Crema Marfil marble from southeast Spain.

Oct 13, 2015

As hotel project broke budget, insiders pointed to role of CEO’s wife

MIDLAND, Michigan, Oct 13 (Reuters) – When Dow Chemical Co
began renovating the hotel it owns here, the industrial giant
spared little expense.

From 2006 through 2008, Dow turned the former Ashman Court
Hotel into a luxury destination. Out went the tile in the lobby.
In the rebranded H Hotel, guests walk on Crema Marfil marble
from southeast Spain.

Sep 22, 2015

Exclusive: Super Bowls and fine wines – Document describes world of Dow CEO

NEW YORK/ATLANTA (Reuters) – Running a Fortune 500 company is a high-pressure occupation. But as documents from Dow Chemical Co suggest, the CEO job can offer some luxuries as well.

Dow’s Andrew Liveris has had the company arrange Super Bowl getaways and other trips for himself, family and friends. According to an internal report, Liveris went on to instruct an aide, in January 2010, not to inform a group of Dow customers invited to that year’s Super Bowl that he too would be there.

Jun 4, 2015

Exclusive: SEC investigates allegations of misspending by Dow Chemical CEO: sources

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission is investigating allegations that Andrew Liveris, chairman and chief executive officer of industrial giant Dow Chemical Co (DOW.N: Quote, Profile, Research, Stock Buzz), misused company funds for personal benefit, according to people familiar with the matter.

It is not clear whether the SEC investigation is limited to the spending allegations or is broader in scope. Also unclear is whether regulators have ordered Dow, Liveris or other company officials to hand over documents or testify as part of the government’s investigation.

Jun 4, 2015

SEC investigates allegations of misspending by Dow Chemical CEO -sources

NEW YORK (Reuters) – The U.S. Securities and Exchange
Commission is investigating allegations that Andrew Liveris,
chairman and chief executive officer of industrial giant Dow
Chemical Co, misused company funds for personal benefit,
according to people familiar with the matter.

It is not clear whether the SEC investigation is limited to
the spending allegations or is broader in scope. Also unclear
is whether regulators have ordered Dow, Liveris or other company
officials to hand over documents or testify as part of the
government’s investigation.

May 7, 2015

SandRidge is target of antitrust grand jury probe: filing

HOUSTON (Reuters) – SandRidge Energy Inc (SD.N: Quote, Profile, Research, Stock Buzz) is the target of federal grand jury probe concerning violations of antitrust law related to the leasing of oil and gas properties, the company said in a regulatory filing on Thursday.

The Oklahoma City, Oklahoma company said the transactions subject to the government’s inquiry date from 2012 and prior years, according to the filing with the U.S. Securities and Exchange Commission.

May 6, 2015

Special Report – Dow’s top auditor challenged CEO on spending for years, documents show

MIDLAND, Michigan (Reuters) – Just before he left the company almost two years ago, the former chief auditor at Dow Chemical Co sent a two-page memo to his boss. It was labelled “DOW CONFIDENTIAL.”

In the July 31, 2013 memo, which has never been made public, Doug Anderson detailed concerns that he feared could put Dow in legal peril. Almost all these concerns revolved around Dow’s high-profile chief executive, Andrew Liveris, and whether Dow may have misled shareholders and U.S. regulators about projects or expenses linked to the CEO.

May 6, 2015

Dow’s top auditor challenged CEO on spending for years, documents show

MIDLAND, Michigan, May 6 (Reuters) – Just before he left the
company almost two years ago, the former chief auditor at Dow
Chemical Co sent a two-page memo to his boss. It was labeled
“DOW CONFIDENTIAL.”

In the July 31, 2013 memo, which has never been made public,
Doug Anderson detailed concerns that he feared could put Dow in
legal peril. Almost all these concerns revolved around Dow’s
high-profile chief executive, Andrew Liveris, and whether Dow
may have misled shareholders and U.S. regulators about projects
or expenses linked to the CEO.

Apr 29, 2015

Oklahoma oilman Hamm ready to drop appeal of $1 billion divorce -filing

By Joshua Schneyer

(Reuters) – Oklahoma oil billionaire Harold Hamm on
Wednesday moved to drop his appeal of a $1 billion divorce
award to his ex-wife, a day after the court dismissed her bid to
re-open the case, according to a court filing.

Hamm’s decision to withdraw his counter-appeal of a bitterly
fought divorce after a lower court awarded his ex-wife Sue Ann
Arnall around $1 billion in January could end their dispute,
which has been ongoing since 2012 with billions at stake.

Apr 24, 2015

Chesapeake reaches $25 million Michigan settlement over leasing charges

By Brian Grow and Joshua Schneyer

(Reuters) – Chesapeake Energy Corp, the second largest U.S. natural gas producer, will create a $25 million compensation fund as part of a settlement on Friday of antitrust, fraud and racketeering charges brought by the state of Michigan, according to terms of the settlement reviewed by Reuters.

In addition to the compensation fund, Chesapeake agreed to plead no contest to one count each of attempted antitrust violation and false pretenses, both misdemeanors. Under terms of the agreement, the court will dismiss those charges after 11 months if Chesapeake adheres to the settlement terms. All other criminal charges will be dismissed by the state. Chesapeake did not admit to wrongdoing.