The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.nasd-law.com, announced today that it is investigating the damages sustained by investors who held large, unhedged concentrated positions in Penn West Petroleum stock (NYSE:PWE) (“Penn West”). Since trading around $28.55 per share in February 2011, the price of Penn West stock has dropped about 61% and is currently trading at $11.17 per share. As a result of this decline, Penn West shareholders who held large concentrated stock positions in Penn West have sustained substantial losses. Investment portfolios holding large concentrated stock positions carry significant downside risks. In some cases, investors holding these positions are unable or unwilling to sell due to adverse tax consequences, company or regulatory restrictions or corporate culture. Full service brokerage firms whose customers hold large concentrated stock positions have a duty to ensure that their customers understand the risks associated with concentration, and to disclose and recommend the availability of risk management strategies which can be used to protect the value of the concentrated portfolio. Such risk management strategies include stop loss and limit orders, protective puts and collars. Stop loss orders, limit orders and protective puts provide an account with downside protection and an exit strategy should the stock decline in value. A hedge strategy, known as a “zero cost” collar, creates a range of value that the portfolio maintains irrespective of the fluctuation and direction of the underlying stock price. The failure to use risk management strategies as well as the failure to “hedge” the value of a concentrated portfolio directly exposes an investor’s concentrated position to the fluctuations in the volatile securities markets. K&T, an experienced, qualified and nationally recognized securities litigation law firm, practices exclusively in the field of securities arbitration and litigation on a national scale. If you have information relating to this investigation, please contact Steven D. Toskes or Jahan K. Manasseh of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com.