Canadian Superior Energy Inc.

Canadian Superior Energy Inc.

December 14, 2009 08:27 ET

Canadian Superior Energy Inc. Responds to Class Action Lawsuit Commenced in the United States

CALGARY, ALBERTA--(Marketwire - Dec. 14, 2009) - Canadian Superior Energy Inc. ("Canadian Superior" or the "Company") (TSX:SNG)(NYSE Amex:SNG) announced today that it has been notified of a class action lawsuit commenced in the United States District Court for the Southern District of New York. The lawsuit purports to be brought on behalf of purchasers of the common stock of Canadian Superior between January 14, 2008 and February 17, 2009. The complaint alleges that certain former executives of Canadian Superior violated the Securities Exchange Act of 1934 by failing to disclose information concerning its prospects in Trinidad and Tobago. The complaint also names a current officer of Canadian Superior as a defendant. Canadian Superior has not been named a defendant in the case as it sought protection under Canadian bankruptcy and reorganization laws and has since reorganized. Canadian Superior intends to take any necessary steps to protect its interests in this matter.

Statements contained in this news release relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward- looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporation's annual reports on Form 40-F or Form 20-F on file with the U.S. Securities and Exchange Commission.

Contact Information

  • Canadian Superior Energy Inc.
    Investor Relations
    (403) 294-1411
    (403) 216-2374 (FAX)
    Canadian Superior Energy Inc.
    Suite 3200, 500 - 4th Avenue S.W.
    Calgary, Alberta, Canada
    T2P 2V6