November 23, 2011 - The court entered the orders approving the plan of allocation and the motion for attorneys' fees and expenses, but not for the amounts requested, and the case and all related cases were ordered closed.

November 16, 2011 - The court approved the settlement.

June 30, 2011 - The court preliminarily approved the settlement.

June 28, 2011 - The parties filed a stipulation of settlement.

March 14, 2011 - The court granted the stipulation of parties and dismissed the case with prejudice.

August 25, 2010 - Cases were consolidated.

August 6, 2010 - The court granted defendants' motion to dismiss with leave to amend.

June 4, 2010 - Defendants filed a motion to dismiss.

April 30, 2010 - The lead plaintiff filed an amended complaint.

March 29, 2010 - Lead plaintiff and lead counsel were appointed.

February 8, 2010 - Lead plaintiff motions were filed.

December 9, 2009 - An investor in shares of Canadian Superior Energy Inc (AMEX: SNG) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of purchasers of the common stock of Canadian Superior Energy Inc (AMEX: SNG) between January 14, 2008 and February 17, 2009, over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that certain of Canadian Superior Energy Inc's former executives violated the Exchange Act by failing between January 14, 2008 and February 17, 2009 to disclose material adverse facts about Canadian Superior Energy Inc's true financial condition, business and prospects. On August 16, 2007, Canadian Superior Energy Inc and Challenger Energy jointly issued a press release announcing that BG International Limited entered into a farm-in agreement (“Farm-In Agreement”) and joint operating agreement (“Joint Operating Agreement”) with Canadian Superior Energy Inc to participate in the exploration drilling and development of the Intrepid Block 5(c) (the “Joint Venture, and Canadian Superior Energy failed to disclose material information, so the complaint. Then on February 12, 2009, Canadian Superior Energy Inc issued a press releasing announcing the “appointment, upon the application of BG of an interim Receiver of its participating interest in Intrepid Block 5(c). Pursuant to the Court Order, the Receiver, in conjunction with BG, will operate the property and conduct the flow testing of the Endeavour well which Canadian Superior believes will validate its operations to date.”

Shares of Canadian Superior Energy Inc stock fell $0.40 per share. On February 17, 2009, Canadian Superior Energy Inc announced that it had received a demand letter from the Canadian Western Bank for repayment of all amounts outstanding under Canadian Superior Energy Inc’s $45 million credit facility with the bank by February 23, 2009. The Company also announced that it was in discussions with alternative lenders.

Canadian Superior Energy Inc, located in Calgary, Canada and incorporated in March 21, 1983, is engaged in the exploration for, and acquisition, development and production of petroleum and natural gas, and Liquified Natural Gas (LNG) projects, with operations in Western Canada, offshore Nova Scotia, offshore Trinidad and Tobago, the United States and North Africa. Canadian Superior Energy Inc (USA) reported in 2007 Total Revenue of $40.86 million and in 2008 Total Revenue of $61.55 million. Shares of Canadian Superior Energy Inc (USA) traded recently at $0.610 per share, down from its 52 week High of $1.50 per share. Canadian Superior Energy Inc (USA) shares (SNG) traded at over $4.72 per share in 2008.