Morgan & Morgan Reminds Penn West Petroleum Ltd. Investors of October 3, 2014 Lead Plaintiff Deadline -- PWE

NEW YORK, Oct. 1, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan reminds investors in Penn West Petroleum Ltd. ("Penn West" or the "Company") PWE of the October 3, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Penn West and certain executives.

A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired Penn West securities between May 1, 2012 and July 29, 2014, inclusive (the "Class Period").

If you own securities of Penn West and want more information about the Penn West Securities Litigation, please contact Morgan & Morgan at 1-800 732-5200 or email info@MorganSecuritiesLaw.com.

The complaint alleges that during the Class Period, the Company was understating operating costs and overstating capital expenditures and royalty expenses and that the Company was vulnerable to non-compliance with certain of its debt covenants.

On July 29, 2014, after the close of trading, Penn West announced that the Audit Committee of the Company's Board of Directors was conducting an internal review of the Company's accounting practices.

Following this news, the price of Penn West stock declined by $1.30, or over 14%, to close at $7.85 on July 30, 2014.

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