This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Law Office Of Brodsky & Smith, LLC Announces Investigation Of Weatherford International, Ltd.

BALA CYNWYD, Pa., April 9, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential violations of the Securities Exchange Act of 1934 by Weatherford International, Ltd. ("Weatherford" or the "Company") (NYSE: WFT).

A class action lawsuit commenced in the United States District Court for the Southern District of New York alleges that during the Class Period the Company did not properly restate its financial statements from 2007 to 2010; had not adequately remediated a material weakness in its internal controls over financial reporting of income taxes from 2007 to 2010; and failed to properly record and/or report a $225 million in adjustments for financial statements from 2007 to 2010. According to the complaint, the Company announced that it was going to adjust its previously reported financial results for the years 2010 and prior by approximately $225 million to $250 million in connection with its previous correction of errors identified in the Company's accounting from income taxes. As a result, the value of Weatherford shares declined significantly. 

If you purchased shares of Weatherford stock between March 11, 2011 and February 21, 2012 and wish to discuss the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions.  You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, visiting http://brodsky-smith.com/405-wft-weatherford-international-ltd.html, or by calling toll free 877-LEGAL-90. If you choose to retain counsel, you may retain Brodsky & Smith, LLC without financial obligation to you, or you may retain other counsel of your choice.

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,079.04 -1.10 -0.01%
S&P 500 2,114.92 -2.77 -0.13%
NASDAQ 5,074.5860 -17.4990 -0.34%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs