June 28 (Reuters) - Obsidian Energy Ltd:
* Co named in lawsuit due to previously disclosed accounting practices
* Do not anticipate matter to materially alter business activities of company
* Three of its former employees were named in a law suit filed by U.S. Securities and Exchange Commission
* Law suit is based on certain historic Penn West accounting practices, discovered by company and reported to SEC in July 2014
* Obsidian Energy Ltd says co formerly named Penn West Petroleum Ltd
* Obsidian Energy Ltd says co, formerly named Penn West Petroleum Ltd, and three former employees named in a law suit filed by U.S. SEC
* As a result of co's investigation, and correction of practices, Penn West restated historic financial statements & results on Sept 18, 2014
* SEC's complaint requests entry of injunctive relief preventing a reoccurrence of practices and certain financial relief Source text for Eikon: Further company coverage: PWT.TO