Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Filed Against Weatherford International Ltd.

Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers of the securities of Weatherford International Ltd. (Weatherford or the Company) between March 2, 2011 and February 21, 2012 (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers and directors (the Complaint). On February 21, 2012, the Company disclosed that it was going to adjust its previously reported financial results for the years 2010 and prior by approximately $225 million to $250 million in connection with its previous correction of errors identified in the Company’s accounting for income taxes. On this disclosure, Weatherford stock dropped approximately 13% on the next trading day, falling from a close of $17.79 per share on February 17, 2012 (the last trading day prior to the disclosure) to a close of $15.36 per share on February 21, 2012 (the first trading day after the disclosure), on very heavy trading volume. If you wish to serve as lead plaintiff, you must move the Court no later than May 22, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.