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The Law Firm Of Levi & Korsinsky, LLP Launches An Investigation Into Possible Securities Laws Violations By Weatherford International - WFT

Levi & Korsinsky is investigating Weatherford International Ltd. (“Weatherford” or the “Company”) (NYSE: WFT) to determine whether it has violated federal securities laws by issuing false and misleading statements. Shares of Weatherford stock dropped over ten-percent after the Company announced on March 1, 2011 that it would restate its financial statements and delay its annual report because of accounting problems. Weatherford said it expects that it will have to make adjustments to its historical financial statements and its 2010 fourth quarter earnings, “totaling approximately $500 million for the periods from 2007 to 2010.” The need for a restatement is related to “an error in determining the tax consequences of intercompany amounts over multiple years.”

If you purchased Weatherford stock between April 25, 2007 and March 1, 2011 and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/weatherford-wft.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.



Copyright Business Wire 2010

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