Law Office of Brodsky & Smith, LLC Announces Investigation Of Weatherford International, Ltd.

Law office of Brodsky & Smith, LLC announced that it is investigating potential violations of the Securities Exchange Act of 1934 by Weatherford International, Ltd. ("Weatherford" or the "Company"). A class action lawsuit commenced in the United States District Court for the Southern District of New York alleges that during the Class Period the Company did not properly restate its financial statements from 2007 to 2010; had not adequately remediated a material weakness in its internal controls over financial reporting of income taxes from 2007 to 2010; and failed to properly record and/or report a $225 million in adjustments for financial statements from 2007 to 2010. According to the complaint, the Company announced 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 from income taxes. As a result, the value of Weatherford shares declined significantly.