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PWE INVESTOR ALERT - Andrews & Springer LLC Is Investigating Penn West Petroleum Ltd. For Possible Securities Fraud Violations

July 30, 2014



WILMINGTON, Del.--(BUSINESS WIRE)-- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating Penn West Petroleum Ltd. (“Penn West” or the “Company”) (NYSE: PWE) for possible violations of securities laws relating to the Company’s announcement today that its financial results will have to be restated.

Today, on July 30, 2014, Penn West announced that it is conducting an internal investigation of its accounting practices for the previous four fiscal years. Specifically, the Company revealed that it will restate certain past financial statements for, at a minimum, two years ending December 31, 2012 and 2013 as well as unaudited interim financial statements for the three months ending March 31, 2014 and 2013. These restatements may cause the Company to reduce capital spending plans and cash flow assumptions for 2014 and bolster its operating cost forecast. Penn West also warned investors that it has initiated discussions with its lenders because a restatement may cause the Company to violate certain covenants in loan agreements covering the Company’s debt. As a result of this news, Penn West’s share price fell 14% today.

Given this information, Andrews & Springer LLC is preparing a class action lawsuit as a result. If you own shares of Penn West and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/pwe or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.




Andrews & Springer LLC

Craig J. Springer, Esq., 1-800-423-6013

cspringer@andrewsspringer.com

Source: Andrews & Springer LLC


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