ASC DISAGREES WITH SEC INVESTIGATION "The U.S. agency also thanked the Alberta Securities Commission (ASC) for its assistance in the case.
However, its conclusions are not shared by the Calgary-based regulator. Alison Trollope, a spokeswoman for the ASC, said via e-mail Wednesday “our investigation led us to a different conclusion than that of the SEC.” She declined further comment."
“This is not the old Penn West,” Paul Surmanowicz, capital markets lead at Obsidian Energy, said in an interview Wednesday.
“We understand that the SEC needs to look through this, and we’re going to let the process run through. But we do feel that this is an issue from 2014 and there’s no new information here.”
Lawyers for the former employees also say the charges are without merit."
https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/us-charges-penn-west-with-accounting-fraud/article35486090/