CINCINNATI, March 7, 2011 (GLOBE NEWSWIRE) -- Attorney Advertising -- The law firm of Statman, Harris & Eyrich, LLC, which has significant experience in class actions, announced today that it is investigating Weatherford International Ltd. ("Weatherford" or the "Company") (NYSE:WFT) for potential violations of state and federal securities laws.
The firm's investigation was triggered on March 3, 2011, when the Company announced that it would have to restate its financial statements and delay its annual report to correct an error in determining the tax consequences of intercompany amounts over multiple years. The Company stated that the adjustments would affect its financial statements for the years ended December 31, 2007, 2008, and 2009, and the quarters ended March 31, June 30, and September 30, 2010. Weatherford reported that it expects to make adjustments "totaling approximately $500 million for the periods from 2007 to 2010." As a result of the Company's announcement, shares of Weatherford fell over 10% on unusually heavy trading.
Shareholders who purchased Weatherford stock between January 11, 2007 and March 2, 2011 may have a claim against the Company and are encouraged to contact attorney Melinda Nenning at (513) 345-8181, Ext. 3095 or mnenning@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; and Dayton, Ohio. www.statmanharris.com
CONTACT: Statman, Harris & Eyrich, LLC Melinda S. Nenning, Esq. 441 Vine Street, Suite 3700 Cincinnati, Ohio 45202 Phone: (513) 345-8181, Ext. 3095 E-mail: mnenning@statmanharris.com