Penn West Petroleum Ltd., February 12, 2016
February 12, 2016
The parties to the Ontario Action, the Alberta Action and the Québec Action signed a settlement agreement. The settlement provides for the defendants to pay $26.5 million in full settlement of the actions. The settlement is subject to approval in Ontario, Alberta and Quebec. The defendants have also settled a class action in the United States District Court for the Southern District of New York that was filed on behalf of persons and entities who purchased or acquired Penn West securities or call options or that sold/wrote Penn West put options on the New York Stock Exchange or otherwise in the United States. Information about the United States class action can be found here.