March 14, 2011 11:44 ET

Milberg LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Weatherford International, Ltd.

NEW YORK, NY--(Marketwire - March 14, 2011) - A class action lawsuit was filed in the United States District Court for the Central District of California on behalf of purchasers of Weatherford International, Ltd. ("Weatherford") (NYSE: WFT) common stock from April 25, 2007, through March 1, 2011, inclusive ("Class Period").

The complaint alleges that Weatherford filed false and misleading statements with the U.S. Securities and Exchange Commission and that certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On March 1, 2011, Weatherford delayed its annual report and said that it will have to restate previous financial statements from 2007 through 2010 by about $500 million because of an "error in determining the tax consequences of intercompany amounts over multiple years." In response to the announcement, Weatherford shares fell 10.12% to $21.14 per share, on extremely heavy trading volume.

If you purchased Weatherford common stock during the Class Period you may, no later than May 10, 2011, file a motion with the Court to appoint you lead plaintiff. A lead plaintiff is a representative party that directs the litigation, and will be the movant that the Court determines to have the largest financial interest in the litigation with claims typical of those of other class members and the ability to adequately represent the class. Your share in any recovery will not be enhanced by serving as a lead plaintiff. You do not need to be a lead plaintiff to recover in a class action; you can recover as an absent class member. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover as an absent class member. The complaint in this action was not filed by Milberg.

Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa, and Detroit. The Firm has litigated landmark cases and recovered billions for shareholders and consumers. Our website has additional information: (

You can contact the following attorney for more information:

Contact Information

  • Andrei V. Rado, Esq.
    Milberg LLP
    One Pennsylvania Plaza, 49th Fl.
    New York, NY 10119-0165
    Phone number: (800) 320-5081

    Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.