Energy News / Shareholders Foundation, Inc.

OTC:WFTIQ Shareholder Notice: Lawsuit Alleges Securities Laws Violations by Weatherford International Plc

Via: ReleaseWire

Updated 12:52 PM CDT, Fri, September 20,2019

A lawsuit was filed on behalf of investors in Weatherford International plc (OTC: WFTIQ) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 09/20/2019 -- An investor, who purchased shares of Weatherford International plc (OTC: WFTIQ), filed a lawsuit over alleged violations of Federal Securities Laws by Weatherford International plc.

Investors who purchased a significant amount of shares of Weatherford International plc (OTC: WFTIQ), have certain options and for certain investors are short and strict deadlines running. Deadline: November 5, 2019. OTC: WFTIQ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Switzerland based Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. Weatherford International plc reported that its annual Total Revenue rose from over $5.69 billion in 2017 to over $5.74 billion in 2018 and that its Net Loss declined from $2.831 billion in 2017 to $2.811 billion in 2018.

Then on May 10, 2019, Weatherford International plc announced it expected to file for Chapter 11 bankruptcy protection.

Shares of Weatherford International plc (OTC: WFTIQ) closed on September 6, 2019 at $0.198 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Weatherford International plc (OTC: WFTIQ) common shares between October 26, 2016 and May 10, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 26, 2016 and May 10, 2019, the Defendants made materially false and misleading statements and omitted material adverse facts concerning Weatherford's "recovery" and "transformation plan" and, relatedly, the Company's ability to manage its debt and avoid bankruptcy. As a result of the Defendants' false and misleading statements and omissions, Weatherford's securities traded at artificially inflated prices between October 26, 2016 and May 10, 2019.

Those who purchased shares of Weatherford International plc (OTC: WFTIQ) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/otcwftiq-shareholder-notice-lawsuit-alleges-securities-laws-violations-by-weatherford-international-plc-1260539.htm

Media Relations Contact
Michael Daniels
1-858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com