A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Penn West Petroleum Ltd (USA) (NYSE:PWE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 26, 2016 and NYSE:PWE investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/17/2016 -- The Shareholders Foundation announced that a deadline is coming up on August 26, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Penn West Petroleum Ltd (USA) (NYSE:PWE) between February 18, 2010 through July 29, 2014.
Investors who purchased a significant amount of shares of Penn West Petroleum Ltd (USA) (NYSE:PWE) between February 18, 2010 through July 29, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Penn West Petroleum Ltd (USA) (NYSE:PWE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/penn-west-petroleum-ltd-usa-nyse-pwe-investor-securities-class-action-lawsuit-08042014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 26, 2016. The class action administrator for this case is Epiq.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Penn West Petroleum Ltd (USA) over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 1, 2012 and July 29, 2014.
According to the complaint the plaintiff alleges on behalf of purchasers of Penn West Petroleum Ltd (USA) (NYSE:PWE) common shares between May 1, 2012 and July 29, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made allegedly materially false and/or misleading statements, including that Penn West Petroleum Ltd was understating operating costs and overstating capital expenditures and royalty expenses; and Penn West Petroleum Ltd's improper accounting practices were causing Penn West Petroleum Ltd to be at risk of non-compliance with certain of its debt covenants.
Those who purchased shares of Penn West Petroleum Ltd (USA) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com