Welcome to the Weatherford International Securities
Litigation Settlement Website

IMPORTANT UPDATE

The distribution of the Net Settlement Fund took place on April 10, 2017.

PLEASE NOTE: This Action is not the same class action as the one entitled, Freedman v. Weatherford International, Ltd., et al., 12-CV-02121-LAK-JCF (S.D.N.Y.), which has not been settled. For information about the Freedman case, please visit www.weatherford2012securitieslitigation.com.


A proposed settlement has been reached in the In re Weatherford International Securities Litigation (the “Action”) by the Court-appointed Lead Plaintiff American Federation of Musicians and Employers’ Pension Fund and named plaintiff Georgia Firefighters’ Pension Fund (together, “Plaintiffs” or “Settlement Class Representatives”), with defendants Weatherford International Ltd. (“Weatherford”), Bernard J. Duroc-Danner, Andrew P. Becnel, Jessica Abarca and Charles E. Geer, Jr. (collectively, “Defendants”) for $52,500,000 in cash. The proposed settlement is subject to Court approval.

The following are important dates and deadlines in connection with the proposed settlement:

  • The Exclusion Submission Deadline was June 8, 2014
  • The Objection Filing Deadline was June 13, 2014
  • The Settlement Fairness Hearing was held on September 15, 2014 at 4:30 p.m.
  • The Claim Submission Deadline was August 19, 2014

Please note: The Court extended the deadlines for certain Settlement Class Members that received late Notice to (i) seek exclusion from the Settlement Class, (ii) object to the Settlement, and (iii) submit a Proof of Claim Form. The extended exclusion and objection deadline was July 28, 2014 and the extended claim submission deadline was October 6, 2014.

The Action is a class action lawsuit brought by investors alleging that they suffered damages as a result of being misled about the effectiveness of Weatherford’s internal controls over accounting and financial reporting for income taxes in violation of the federal securities laws.

Plaintiffs and members of the settlement class are represented by the law firm of Kessler Topaz Meltzer & Check, LLP, the Court-appointed lead counsel in the Action.

You may be a member of the Settlement Class if you purchased or otherwise acquired Weatherford common stock between April 25, 2007 and March 1, 2011, inclusive (see definition of the Settlement Class by clicking on the “Class Definition” tab on the left side of this page).

Please be sure to read the Notice to fully understand your rights.

This website will be updated as more information becomes available. Please check back periodically for updates regarding the proposed settlement.