Canadian Superior Energy Settles Lawsuit
Canadian Superior Energy and its insurers have reached an agreement with plaintiffs' legal counsel to settle all securities class action litigation and actions pending in the United States against the Company and certain of its officers and directors resulting from the drilling last year of the Canadian Superior El Paso "Mariner" I-85 exploration well drilled with El Paso Corporation offshore Nova Scotia.
The US$3.2 million settlement, which is covered by the Company's
insurance, has been reached with no admission of liability by any
party and has been entered into to avoid costly and time consuming
litigation by all parties. All parties have agreed to expeditiously
seek the required United States court approval of the settlement.
- Canadian Superior Energy Notes Operational Updates (Jun 03)
- Canadian Superior Energy Posts 1Q10 Results (May 13)
- Canadian Superior Energy Waves Goodbye to COO (May 05)