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Penn West to settle class actions related to intended financial restatements

Feb. 16, 2016 7:59 AM ETObsidian Energy Ltd. (OBE) Stock, OBE:CA StockBy: Carl Surran, SA News Editor9 Comments
  • Penn West Petroleum (PWE) agrees to settle all class action proceedings in Canada and the U.S. alleging damages related to its July 2014 announcement that it would restate certain financial statements.
  • PWE says the settlement provides for a payment that will be funded by its insurance and will not impact its cash resources or financial position.

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