NEW YORK, Aug. 28, 2014 /PRNewswire/ -- Levi &
Korsinsky announces that a class action lawsuit has been commenced
in the United States District Court for the Southern District of
New York on behalf of investors
who purchased Penn West Petroleum Ltd. ("PennWest" or the
"Company") (NYSE: PWE) securities between May 4, 2012 and July 29,
2014.
For more information, click here:
http://zlk.9nl.com/penn-west-petroleum-pwe.
The complaint alleges that (a) Penn West improperly classified
operating expenses as property, plant and equipment without
documentary support, resulting in an overstatement of capital
expenditures; (b) Penn West incorrectly classified certain
operating expenses as royalty expenses; (c) Penn West lacked
adequate internal controls over financial reporting; (d) Penn West
was not in compliance with certain of its covenants under its
unsecured, revolving syndicated bank facility; and (e) as a result
of the foregoing, Penn West's financial statements were materially
false and misleading at all relevant times.
If you suffered a loss in Penn West you have until October 3, 2014 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery
doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E.
Levi, Esq. either via email at jlevi@zlk.com or by telephone
at (212) 363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/penn-west-petroleum-pwe.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut, and Washington D.C. The
firm's 26 attorneys have extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
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SOURCE Levi & Korsinsky, LLP