The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Weatherford International plc (OTCMKTS: WFTIQ) securities (i) during the period from October 26, 2016 through May 10, 2019, inclusive; and/or (ii) pursuant or traceable to Weatherford’s secondary offering of common stock that closed on or about November 21, 2016.
According to a filed complaint, during the Class Period, certain individuals in Weatherford's management, certain of its directors, and an underwriter 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 these misstatements and/or omissions, Weatherford’s securities traded at artificially inflated prices during the Class Period.
If you suffered a loss in Weatherford you have until November 5, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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