SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

March 11, 2011 11:03 ET

Dyer & Berens LLP Announces That a Class Action Lawsuit Has Been Filed on Behalf of Investors Who Purchased Weatherford International Ltd. Securities Between 4/25/07 and 3/1/11; Announces Upcoming Investor Deadline (WFT)

DENVER, CO--(Marketwire - Mar 11, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors who purchased Weatherford International Ltd. ("Weatherford" or the "Company") (NYSE: WFT) securities between April 25, 2007 and March 1, 2011, inclusive (the "Class Period"), and who were damaged thereby.

What actions may I take at this time? If you purchased during the Class Period and wish to serve as a lead plaintiff, you must request appointment by court no later than May 9, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that defendants knew or recklessly disregarded that their Class Period statements concerning Weatherford's business, operations and prospects were materially false and misleading, including: (1) that the Company improperly accounted for income taxes relating to intercompany amounts and foreign tax assets; (2) as a result, the Company's financial results were materially misstated during the Class Period; (3) that the Company's financial results were not prepared in accordance with GAAP; and (4) that the Company lacked adequate internal and financial controls. Based upon the foregoing, the complaint charges Weatherford and certain of its officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. Dyer & Berens LLP has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com